What types of data are typically involved in creating transaction data?

Transaction data typically involve dynamic inputs that reflect ongoing operations, such as purchases, sales, inventory changes, and financial exchanges. In an enterprise context, transaction data is not limited to just financial information; it also includes relevant contextual information that can help in tracking and managing operations effectively.

Customer Master Data provides essential details about customers, including their identities, contact information, and purchasing history. This data is critical when creating transaction records because it helps to personalize transactions and analyze customer behavior.

Material Master Data contains information about the materials that a company produces, sells, or uses in its operations. This data is vital for transactions involving inventory management, production planning, and procurement processes. It supports the efficient management and tracking of inventory movements and other related activities.

Therefore, the inclusion of both Customer Master Data and Material Master Data in transaction data enables organizations to comprehensively analyze their transactions, enhancing their ability to respond to customer needs and optimize supply chain operations.