Master Data Services or MDS from Microsoft is an application which allows an organization to store Master data within a single repository.
In such, it has a Database back end, which stores the Models, Entities and Attributes, Similar to Database, Tables and Fields.
You can save versions to track who changed what when.
You can create Views to allow exporting of data, for example, into SSIS to ETL the Master Data into your EDW flow of data.
And it has a Plug In for Excel. And today I spent considerable time trying to create an Entity and Import the data at the same time. And I'll give you some advice, don't try this. Instead, create the Entity in the Web Browser, add the Attributes and Types manually, as this will save you a lot of headaches.
You can still import the data via Excel Master Data Service plug in, just open the Entity first, then past in the data, then Publish.
As always, you can do as you please, however, this could save you time and effort.