Types of Data In The Enterprise
Transaction data is created by and used in the enterprise operations. Business processes such as sales order processing and billing create transaction records including data about details such as date, time, location, price, quantity payment method, etc.
Cumulative data is comprised of the transaction data aggregated over a period to provide information about the performance of the enterprise in terms of profit and loss, cash flow, comparisons with targets and budgets, and trends and exceptions.
Both transaction data and cumulative data depend on master data to ensure their accuracy and consistency. The same master data must be available to all business processes. Errors in master data ripple through transaction data resulting in inaccurate cumulative data and leading to wasted effort in analysing and correcting errors.
Focus of Data Cleansing
The focus of a data quality project is on master data. Master data in an enterprise is comprised of collections of business data such as customer data, supplier data, product and price data, identity management, resource and planning data. And all these include elements of general reference data such as country codes, calendar data, currency codes, product classifications and many more.