Transaction data
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:
- Financial transactions about orders, invoices, payments;
- Work transactions about plans, activity records;
- Logistic transactions about deliveries, storage records, travel records, etc..
01Management
Recording and storing 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 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 bankbooks.
Transaction processing systems are application software that generate transactions and manage transaction data/information, e.g. SAP and Oracle Financials.
02Data warehousing
Transaction data can be summarised in a data warehouse, which helps accessibility and analysis of the data.
Sources and credits
This article is adapted from the Wikipedia article “Transaction data”, written by its contributors and licensed under CC BY-SA 4.0. Fathomly has changed the layout, removed citation markers, navigation and maintenance notices, and adjusted punctuation. This adapted version is shared under the same license. For references, see the original article.
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