In transaction data creation, what is included as situational data?

Situational data in transaction data creation refers to the variable factors that can influence the context of the transactions being analyzed. Market conditions are indeed a key component of situational data as they encompass the current state of the market, including factors such as demand and supply, competition, and economic trends. These elements can significantly affect transaction outcomes, pricing strategies, and overall business performance.

In contrast, while employee performance, project deadlines, and supplier reliability are important aspects of a business's operational environment, they do not represent the broader external conditions that impact transaction data in the same way that market conditions do. Employee performance focuses on individual output and productivity, project deadlines pertain to internal project management, and supplier reliability relates to the consistency and quality of supply chain inputs. Thus, while these factors are relevant in a business context, they are not classified as situational data.