This thesis is focused on Master Data Management (MDM), Customer Data Integration (CDI) area and its main domains. It is also a reference to a various theoretical directions that can be found in this area of expertise. It summarizes main aspects, domains and presents different perspectives to referenced principles. It is an exhaustive background research in area of Master Data Management with emphasis on practical use with references on authors experience and opinions. Secondary focus is directed to the field of business value of Master Data Management initiatives. Thesis presents a thought concept for initiations of MDM project. The reason for such a concept is based on current trend, where companies are struggling to determine actual benefits of MDM initiatives. There is overall accord on the subject of necessity of such initiatives, but the struggle is in area of determining actual measureable impact on company's revenue or profit. Since the MDM initiative is more of an enabling function, rather than direct revenue function, the benefit is less straight forward and therefore harder to determine. This work describes different layers and mapping of business requirements through layers for transparent linkage between enabling functions to revenue generating ones. The emphasis is given to financial benefit calculation, measurability and responsibility of business and IT departments. To underline certain conclusions thesis also presents real world interviews with possible stakeholders of MDM initiative within the company. These representatives were selected as key drivers for such an initiative. Interviews map their recognition of MDM and related terms. It also focus on their reasons and expectations from MDM. The representatives were also selected to equally represent business and IT departments, which presents interesting clash of views and expectations.