What is meant by Transaction data?
The term "transaction data" refers to data that represents transactions or activities within a company. This data captures all relevant information regarding the movement of goods, services, money, or other resources. Transaction data is dynamic and continuously changes, as it reflects actual business operations in real-time. It is recorded in contrast to master data, which contains static and fundamental information about objects or entities.
Typical software functions in the area of "transaction data":
- Transaction Recording: Automatic capture and storage of transaction data, such as orders, deliveries, or payments.
- Real-Time Monitoring: Monitoring and analyzing transaction data in real-time to respond immediately to changes or discrepancies.
- Data Integration: Integration of transaction data from various sources, such as ERP systems, CRM systems, or logistics platforms, to gain a comprehensive view of business operations.
- Reporting: Generating reports based on transaction data to gain insights into business performance.
- Process Automation: Automating business processes based on transaction data, such as automatically updating inventory after a goods movement.
- Audit Trail and Traceability: Ensuring the traceability of transactions by recording all relevant transaction data for audits and compliance purposes.
Examples of "transaction data":
- Order Movements: Recording data generated during the placing, processing, and delivery of orders.
- Payment Transactions: Data captured during the execution of payments and bookings.
- Goods Movements: Information on the physical transfer of goods, such as goods receipt and goods issue.
- Production Activities: Recording data generated during the production of goods, such as material consumption and completion.
- Warehouse Movements: Data on the storage, relocation, and retrieval of goods from warehouses.
- Logistics Data: Information on the shipping, receiving, and transportation of goods, including tracking data.