I am looking for "Master Data Management" in Azure and seeing SQL Data Sync (Preview) looks similar to the MDM functionalities, not sure though. Any leads here would be appreciated.
Azure SQL Database (PaaS) does not have a Master Data Management solution, but you can vote here for this feature to be included as part of the service in the future. SQL Server on-premises does have Master Data Services (MDS) as solution for master data management, and you can install this on an Azure VM.
If you are looking for Master Data Management functionality that is native to Azure, then I would recommend you take a look at CluedIn. CluedIn is a recommended MDM solution from Microsoft themselves (you can see the reference here: https://learn.microsoft.com/en-us/azure/architecture/reference-architectures/data/cluedin)
Azure Data Sync has some of the capabilities you would want as part of an MDM project, however it does not have features you would expect from an MDM system like:
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