SAP S/4HANA Cloud is a Software-as-a-Service (SaaS) product, which means that the software is licensed through a subscription model and is accessed via the Internet. With SAP managing tasks like installation and upgrades, users can focus more on optimizing their business processes.
SAP S/4HANA Cloud is a standardized, in-memory ERP running in the cloud that connects your entire workforce, suppliers, customers, and assets to the digital core, offering scalability, ease of management, and security that companies must prioritize in today’s digital economy.
The next figure describes the features of the SAP S/4HANA Cloud Public Edition, master data governance.

Note
"SAP S/4HANA Cloud Public Edition, master data governance" refers to an offering that includes the technical product SAP S/4HANA Cloud as the main component and a large variety of surrounding services.
When you sign a subscription contract for SAP S/4HANA Cloud Public Edition, master data governance, not only do you get the technical product SAP S/4HANA Cloud, but also an entire environment that contains extra products and services, designed to support your business processes. The environment you receive is modular; this means that it contains some default products that are necessary for the standard functions, while other products are optional, and their inclusion depends on your business requirements.
SAP S/4HANA Cloud Public Edition, master data governance, targets to provide tailored master data management processes for the public cloud: leverage effective consolidation, mass processing, data quality management, and remediation of master data to govern business partner (including customer and supplier) and product master data in SAP S/4HANA Cloud.