Transaction data
Transaction data is 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.
Records management
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 is 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.
Data warehousing
Transaction data can be summarised in a data warehouse, which helps accessibility and analysis of the data.