This is just a very quick information about SQL Server 2012 Data Quality Services (DQS) and Master Data Services (MDS). If you don't have a clue what they are useful for, this blog post should give you the basic idea.
Many companies or organizations do regular data cleansing. When you cleanse the data, the data quality goes up to some higher level. The data quality level is determined by the amount of work invested in the cleansing. As time passes, the data quality deteriorates, and you need to repeat the cleansing process. If you spend an equal amount of effort as you did with the previous cleansing, you can expect the same level of data quality as you had after the previous cleansing. And then the data quality deteriorates over time again, and the cleansing process starts over and over again.
The idea of Data Quality Services is to mitigate the cleansing process. While the amount of time you need to spend on cleansing decreases, you will achieve higher and higher levels of data quality. While cleansing, you learn what types of errors to expect, discover error patterns, find domains of correct values, etc. You don't throw away this knowledge. You store it and use it to find and correct the same issues automatically during your next cleansing process. The following figure shows this graphically.
The idea of master data management, which you can perform with Master Data Services (MDS), is to prevent data quality from deteriorating. Once you reach a particular quality level, the MDS application—together with the defined policies, people, and master data management processes—allow you to maintain this level permanently. This idea is shown in the following picture.
Not an in-depth blog post, as I said; however, I hope it brings some basic understanding about the purpose of DQS and MDS.