What type of data is master data?

Is master data transactional data?

Transactional data relates to the transactions of the organization and includes data that is captured, for example, when a product is sold or purchased. Master data is referred to in different transactions, and examples are customer, product, or supplier data.

Is master data reference data?

The main difference between master data and reference data is that master data is the data shared by multiple systems, applications, and processes in an organization while reference data is a type of master data that is used by other data fields. Generally, master data and reference data are two types of data.

What are examples of types of master data?

Customer information—such as names, phone numbers, and addresses—is an excellent example of master data. This data is less volatile but occasionally needs to be updated when a customer moves or changes their name.

What is master data records?

Master data are key data that are shared by all Service Manager applications, and are stored as records in support tables. Master data are often provided by functions outside of Information Technology, such as Human Resource Management, Finance, and Facilities.