How does master data get managed effectively when it comes from different sources such as tools, vendors, and applications? I'm just looking into MDM for a project - we do not have anything in place yet.
Any MDM tool should have minimum - data quality, data governance, services to receive and publish data, components/toolset to load data and survivorship rules.
Data quality tool in general separate that needs to be integrated to MDM application. batch data and real-time data are sent to data quality tool. it cleanses, matches and send data to MDM application. MDM application reconcile data using survivorship rules. You can configure survivorship rules so that most confident source takes precedence when merging - auto merge.
Most of MDM applications use web services to integrate source/participant applications..