Transaction data, or transaction information, constitute a category of
data
In the pursuit of knowledge, data (; ) is a collection of discrete values that convey information, describing quantity, quality, fact, statistics, other basic units of meaning, or simply sequences of symbols that may be further interpret ...
describing
transactions.
Transaction data/information gather variables generally referring to
reference data
Reference data is data used to classify or categorize other data. Typically, they are static or slowly changing over time.
Examples of reference data include:
* Units of measurement
* Country codes
* Corporate codes
* Fixed conversion rates e.g ...
or
master data
Master data represents " data about the business entities that provide context for business transactions". The most commonly found categories of master data are parties (individuals and organisations, and their roles, such as customers, suppliers, ...
– e.g. dates, times, time zones, currencies.
Typical transactions are:
*
Financial transactions
A financial transaction is an agreement, or communication, between a buyer and seller to exchange goods, services, or assets for payment. Any transaction involves a change in the status of the finances of two or more businesses or individuals. A ...
about orders, invoices, payments;
* Work transactions about plans, activity records;
*
Logistic transactions about deliveries, storage records, travel records, etc..
Management
Recording and storing transactions is called
records management
Records management, also known as records and information management, is an organizational function devoted to the management of information in an organization throughout its life cycle, from the time of creation or receipt to its eventual dispos ...
. The record of the transaction is stored in a place where the
retention can be guaranteed and where data is archived or removed following a
retention period A retention period (associated with a retention schedule or retention program) is an aspect of records and information management (RIM) and the records life cycle that identifies the duration of time for which the information should be maintained ...
. Formats of recorded transactions can be digital data in
databases
In computing, a database is an organized collection of data stored and accessed electronically. Small databases can be stored on a file system, while large databases are hosted on computer clusters or cloud storage. The design of databases spa ...
and
spreadsheets, or handwritten texts in physical documents like former
bankbooks.
Transaction processing systems
Transaction processing is a way of computing that divides work into individual, indivisible operations, called transactions. A transaction processing system (TPS) is a software system, or software/ hardware combination, that supports transaction ...
are
application software
Application may refer to:
Mathematics and computing
* Application software, computer software designed to help the user to perform specific tasks
** Application layer, an abstraction layer that specifies protocols and interface methods used in a ...
that generate transactions and manage transaction data/information, e.g.
SAP and
Oracle Financials
Oracle Applications comprise the applications software or business software of the Oracle Corporation both in the cloud and on-premises. The term refers to the non-database and non-middleware parts. The suite of applications includes enterprise res ...
.
Data warehousing
Transaction data can be summarised in a
data warehouse
In computing, a data warehouse (DW or DWH), also known as an enterprise data warehouse (EDW), is a system used for reporting and data analysis and is considered a core component of business intelligence. DWs are central repositories of integra ...
, which helps accessibility and analysis of the data.
See also
*
Data modeling
Data modeling in software engineering is the process of creating a data model for an information system by applying certain formal techniques.
Overview
Data modeling is a process used to define and analyze data requirements needed to su ...
*
Data architecture
Data architecture consist of models, policies, rules, and standards that govern which data is collected and how it is stored, arranged, integrated, and put to use in data systems and in organizations. Data is usually one of several architecture do ...
*
Information lifecycle management
Data management
Transaction processing
References
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