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It depends on how complex your master data is, and it also depends on the MDM vendor you choose. Some MDM products, especially the purpose-built ones, already come with business rules and data quality rules configured. So, for example, Siperian can correct the zip code of a customer's address. Initiate Systems knows that "Robert" is the first name and "Smith" is the last name and that "Bob" is an acceptable alias. These rules come packaged with the products and don't need to be explicitly coded by a practitioner.
Other rules, however, need to be configured into the hub by your MDM administrator. These are usually based on the specialty of your industry or business need. The good news is that these companies and others are offering data stewardship dashboards and automated workflow tools that make this work a lot easier to do than ever.
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