1. A tangible memory medium of a computer encoded with computer readable instruction code for generating an efficient database schema, said computer readable instruction code configured to: obtain an original schema corresponding to an original database, said original schema comprising a field and an original field type selection; perform rule-based structural and semantic checking comprising checking fields and relationships of said original schema for data integrity based on at least one of nested structure denormalization, lookup tables that can hold an unlimited number of records, inspection of taxonomy defined on a non-main table, and augmenting a particular table of said original schema; determine at least one suggested field type based on said checking, wherein said at least one suggest field type is selected from a first field type of qualifier type, wherein said first field type of said qualifier type is a lookup into the records of a qualified table of a database comprising sparse data placed in said qualified table and eliminated from a primary table of said database, a second field type of multi-lingual type, wherein said second field type of multi-lingual type is associated with a targeted audience, wherein only data that is different with respect to a second audience is entered for said targeted audience in said database, and unentered values are inherited form data entered for said second audience in said database, and a third field type of calculation type, wherein said third field type of calculation type is configured to store calculated values of said third field type in memory at runtime and not in said database; accept a field type selection from said first field type, said second field type, and said third field type, wherein said field type selection is different from said original field type selection; generate a modified schema comprising said field and said field type selection based on said original schema and said at least one suggested field type, wherein said modified schema conforms to requirements of a master data management schema; and load said modified schema into a desired database, wherein said desired database comprises data from said original database, wherein said data is optimized based on said field type selection.
7. The tangible memory medium of claim 1 , wherein said computer readable instruction code is further configured to: obtain at least one data record from an external database; check said at least one data record for structural compatibility and semantic compatibility with at least one rule; and, present a suggested field type to a user for at least one field type in said at least one data record based on data in said at least one data record wherein said suggested field type is based on a rule that utilizes a relation between a plurality of fields in said at least one data record.