Master data is the basic information about customers, suppliers, products and other operational units; this data changes relatively rarely and includes names, addresses, internal numbers and other descriptive characteristics as well as additional information. Master data is used in ERP systems The information is of great importance, as it often forms the basis for linking information.
- Master data is basically static information that does not change over a long period of time, or only rarely. It forms the basic framework for your business processes.
- In contrast to this transaction data, that change on a monthly or even daily basis - such as the recorded working hours of an employee or the quantity of an item that you record in a sales order. The combination of both types of data enables correct processing, e.g. for payroll accounting or invoicing.
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