1. A master data Management and Information eXchange (MIX) architecture including a framework that unifies sharing and management of master data across repositories, data formats and applications in an enterprise, said MIX architecture comprising: at least one master data store which stores and updates master data for said enterprise; a management parameter store which assists in providing architecture for an adaptive extensible framework for unified master data; and, wherein said MIX architecture is technology independent and configured for selectively connecting said master data store and said management parameter store for providing a unified IT system across the enterprise.