Transaction data or
transaction information is a category of
data describing transactions. Transaction data/information gather variables generally referring to
reference data or
master data – e.g. dates, times, time zones, currencies.
Typical transactions are:
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Financial transactions about orders, invoices, payments;
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Work transactions about plans, activity records;
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Logistics about deliveries, storage records, travel records, etc..
Management
Recording and storing transactions is called records management. The record of the transaction is stored in a place where the can be guaranteed and where data is archived or removed following a
retention period. Formats of recorded transactions can be digital data in
databases and
spreadsheets, or handwritten texts in physical documents like former
bankbook.
Transaction processing systems are application software that generate transactions and manage transaction data/information, e.g. SAP ERP and Oracle Financials.
Data warehousing
Transaction data can be summarised in a
data warehouse, which helps accessibility and analysis of the data.
See also
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Data modeling
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Data architecture
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Information lifecycle management, process of administering digital data storage and applying policies for effective information management
