I have a different, I think better definition of master data. To me, master data is the result of high value transactions. For example, if Starbucks messes up a coffee order, they dump it and try again. That's not a master data transaction. However, when they buy or lease a store location, trust me, they don't throw the real estate away if they mess up the transaction.
That's master data.
Anything else is fluff and marketing hype.