We derive a new representation for spin-spin correlation functions of the finite XXZ spin-1/2 Heisenberg chain in terms of a single multiple integral, that we call the master equation. Evaluation of this master equation gives rise on the one hand to the previously obtained multiple integral formulas for the spin-spin correlation functions and on the other hand to their expansion in terms of the form factors of the local spin operators. Hence, it provides a direct analytic link between these two representations of the correlation functions and a complete re-summation of the corresponding series. The master equation method also allows one to obtain multiple integral representations for dynamical correlation functions.