"In computerized business management, single version of the truth (SVOT), is a technical concept describing the data warehousing ideal of having either a single centralised database, or at least a distributed synchronised database, which stores all of an organisation's data in a consistent and non-redundant form."
In the context of data warehousing, a "single source of truth" usually refers to a centralized, consolidated and reliable authoritative data repository, that serves as the go-to resource for reliable information for analytics purposes within an organization (as opposed to the proliferation of data silos), to boost decision-making processes, and collaboration, empowering organizations to make informed decisions based on trusted information, with better Data Governance and Compliance.
Data integration processes and techniques such as cleansing, transformation, and standardization are applied to establish consistency and integrity, reinforcing data quality, data consistency, correctness, and dependability, by removing data inconsistencies, duplications, and conflicts that may be caused by several data sources or systems or by the integration of that sources or systems.