What is the benefit of having a central repository for master data governance?

Having a central repository for master data governance significantly contributes to the reduction of duplication and enhanced governance. In a master data management context, a central repository ensures that all stakeholders work with a single, consistent set of master data. This minimizes the chances of data redundancy, where the same data could exist in multiple locations, potentially leading to discrepancies and conflicts.

By centralizing master data, organizations can maintain high data quality and integrity, as they can implement standardized processes for data entry, updates, and maintenance. This governance framework ensures that all data adheres to predefined standards and rules, making it easier to manage and audit. Overall, this approach fosters transparency and accountability in data management, thus enhancing the overall governance of the data.

The other options do not align with the primary advantages of using a central repository for master data governance. Increased data redundancy contradicts the goal of master data management. Enhanced hardware performance and improved user access times may be beneficial outcomes in certain contexts but are not direct benefits related to the establishment of a central master data repository.