Reference and Master Data
6 important questions on Reference and Master Data
How would you define master and reference data
- Data redundancy
- ensure higher quality
- reduce the cost of data integration
What are the business drivers for a master and reference data management programs ?
- Meeting data requirements
- Managing Data Quality
- Managing the cost of data integration
- Reducing risk
What are the goals for a master en reference data program
- Have complete, consistent, current authoritative master and reference data
- Enabling master and reference data across functions and applications
- lowering costs and reducing complexity
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Which priciples do we follow for master and reference data management
- Shared data
- Ownership
- Quality
- Stewardship
- Controlled Change
- Authority
Difference between master and reference data management
- Masterdata focusses on values and identifiers across systems for essential business entities
- Reference data management focusses on the control over defined domain values, definitions and relationships
What are the three types of reference data structures we distinquish
Cross reference
taxanomy (naics)
Ontology (content managment)
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
