Transaction Data

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Transaction Data - short version

The finite data pertaining to a given event occurring in a process. Examples are the data obtained when an individual checks out groceries (the grocery shopping process) and the data obtained from testing a machined component (the final product inspection step of the production process).

Transaction Data - long version

Transaction data are data describing an event (the change as a result of a transaction) and is usually described with verbs. Transaction data always has a time dimension, a numerical value and refers to one or more objects (i.e. the reference data). Typical transactions are:

* Financial: orders, invoices, payments

* Work: Plans, activity records

* Logistics: Deliveries, storage records, travel records, etc.

Typical transaction processing systems (systems generating transactions) are SAP and Oracle Financials. Recording and retaining transactions is called records management. The record of the transaction is stored in a place where the retention can be guaranteed and where data are archived/removed following a retention period. The format of the transaction can be data (to be stored in a database), but it can also be a document. Transaction data can be summarised in a Data warehouse, which helps accessibility and analysis of the data.



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