Two Decades of Progress in Master Data Management and Data Governance: Developments and Innovations

Abstract

Over the last twenty years, Master Data Management (MDM) and Data Governance (DG) have evolved dramatically, progressing from foundational roles in data quality and regulatory compliance to strategic enablers of enterprise agility and digital innovation. This review consolidates the development of MDM and DG from 2000 to 2024, analyzing 112 peer-reviewed articles, industry reports, and real-world implementation studies. Employing a mixed-method approach—combining thematic analysis, bibliometric mapping, and keyword frequency evaluation—the study identifies critical milestones, technological advancements, and shifting organizational practices. Results indicate a consistent movement from conceptual frameworks toward AI-driven, cloud-native governance models, with increased focus on decentralization, automation, and deriving business value from data. The study also highlights the alignment of MDM and DG with organizational objectives, facilitated by innovations such as data mesh, data fabric, and real-time metadata management. By providing a consolidated perspective on the historical evolution and emerging trends of data governance ecosystems, this review offers actionable insights for researchers, practitioners, and policymakers navigating the rapidly changing data-driven enterprise environment.