tag:blogger.com,1999:blog-5650243067310933543.post3488466981592102674..comments2024-03-21T05:34:12.449+01:00Comments on BI Future Blog: Master data and reference dataHennie de Nooijerhttp://www.blogger.com/profile/04946694074745643589noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5650243067310933543.post-57291279061405640272014-02-14T05:48:34.987+01:002014-02-14T05:48:34.987+01:00"Reference data is a close cousin of master d..."Reference data is a close cousin of master data. While master data is challenged with problems of unique identification, may be more rapidly changing, requires consensus building across stakeholders and lends structure to business transactions, reference data is simpler, more slowly changing, but has semantic content that is used to categorize or group other information assets – including master data – and gives them contextual value.<br />[..]<br />Reference data types may include types and codes, business taxonomies, complex relationships & cross-domain mappings or standards.<br />[..]<br />Reference data carries contextual value and meaning and therefore its use can drive business logic that helps execute a business process, create a desired application behavior or provide meaningful segmentation to analyze transaction data. Further, mapping reference data often requires human judgment" (https://blogs.oracle.com/mdm/entry/reference_data_management_and_master)<br /><br />"For organizations with large commercial exposures, well understood and shared mastered data is key, and in highly evolved financial markets, "common" reference data is so critical that the emergence of mastered data shared services is starting to become a feature of everyday life." (http://www.accenture.com/us-en/Pages/insight-technology-master-data-management-summary.aspx)<br /><br />and something about meta data in general: https://blogs.oracle.com/IanT/entry/is_metadata_importantAnonymousnoreply@blogger.com