What does reference data typically include?

What does reference data typically include?

• A. Real-time transactional data
• B. Highly detailed operational data
• C. Codes and descriptions
• D. Employee performance metrics

Answer: (C)

Reference data typically includes codes and descriptions that are used to categorize and define other data within an organization. This kind of data provides context and standardization, which is essential for maintaining consistency across data sets. For example, reference data can include things like country codes, currency codes, or product categories. This data is crucial for various functions such as data governance, data integration, and analytics, as it helps ensure that different systems and datasets can communicate effectively and uniformly. By utilizing codes and descriptions, organizations can also avoid ambiguity and errors when interpreting data. In contrast, real-time transactional data involves ongoing business transactions, while highly detailed operational data pertains to specific activities or processes at a granular level. Employee performance metrics focus on assessing the effectiveness and productivity of individuals, which is a different domain altogether compared to the standardization functions of reference data.

Reference data typically includes codes and descriptions that are used to categorize and define other data within an organization. This kind of data provides context and standardization, which is essential for maintaining consistency across data sets. For example, reference data can include things like country codes, currency codes, or product categories.

This data is crucial for various functions such as data governance, data integration, and analytics, as it helps ensure that different systems and datasets can communicate effectively and uniformly. By utilizing codes and descriptions, organizations can also avoid ambiguity and errors when interpreting data.

In contrast, real-time transactional data involves ongoing business transactions, while highly detailed operational data pertains to specific activities or processes at a granular level. Employee performance metrics focus on assessing the effectiveness and productivity of individuals, which is a different domain altogether compared to the standardization functions of reference data.