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Reference and Master Data is the collection of generally non-transactional data that gives context to transactions and provides connection points between and among related data in different records, files, tables and other storage formats. Reference and master data management enables organizations to understand operational data and analyze disparately collected data effectively based on reference and master data management guidelines, master data management standards, and reference data management processes.
The purpose of data documentation is to collect information about the data to facilitate understanding, interpretation, transformation, use, etc. The semantics of the term “documenting”
Managing reference data is a complex and essential activity to ensure usable data for operations and decisions Managing reference data poorly can have a profound
Reference and master data provide the contextual capabilities for transactional data. Managing reference and master data enables organizations to understand operational data and analyze disparately
