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What characteristics does Reference data have that distinguish it from Master Data?
Suggested Answer: C
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Reference data and master data are distinct in several key characteristics. Here's a detailed explanation:
Reference Data Characteristics:
Stability: Reference data is generally less volatile and changes less frequently compared to master data.
Complexity: It is less complex, often consisting of simple lists or codes (e.g., country codes, currency codes).
Size: Reference data sets are typically smaller in size than master data sets.
Master Data Characteristics:
Volatility: Master data can be more volatile, with frequent updates (e.g., customer addresses, product details).
Complexity: More complex structures and relationships, involving multiple attributes and entities.
Size: Larger in size due to the detailed information and numerous entities it encompasses.
Data Management Body of Knowledge (DMBOK), Chapter 7: Master Data Management
DAMA International, 'The DAMA Guide to the Data Management Body of Knowledge (DMBOK)'
34 comments · newest first
NI
Nieves
11 months ago
I thought it had to be more structured, but I guess not!
ON
Onita
11 months ago
It often provides data for transactions, true!
TR
Tracey
11 months ago
Wait, is it always from an outside source? That seems off.
LU
Lucia
12 months ago
I agree, it's usually simpler too!
GA
Gail
12 months ago
Reference data is definitely less volatile than Master Data.
MA
Marguerita
12 months ago
I thought reference data was always from external sources, but I’m not confident about that. Maybe option B is right?
MA
Malinda
1 year ago
I practiced a question like this, and I feel like reference data is used for categorization, which could relate to option E.
RE
Ressie
1 year ago
I’m not entirely sure, but I think reference data is often less complex than master data. It might be related to option D too.
CH
Cherilyn
1 year ago
I remember that reference data is usually more stable than master data, so I think option D might be correct.
CA
Carrol
1 year ago
Hmm, I'm a bit torn between a few of these options. I know reference data is supposed to be more volatile and less complex, but I'm not sure if that's the best way to distinguish it from master data. I'll need to review my notes and try to narrow it down.
DE
Denise
1 year ago
Ah, this is a good one. I remember discussing the differences between reference and master data in class. I believe the key is that reference data is used more for transactions, while master data is the authoritative source. I'll select option E.
VI
Viola
1 year ago
Okay, I think I've got a handle on this. Reference data is typically more volatile and less complex than master data, which is the core data that drives the business. I'll go with option D.
FR
France
1 year ago
Hmm, I'm a bit unsure about this one. The options seem to cover a range of characteristics, but I'm not sure which one best captures the key distinction. I'll need to think this through carefully.
FA
Fannie
1 year ago
This seems like a straightforward question about the differences between reference data and master data. I'll need to carefully consider each option to determine the best answer.
AN
Anisha
1 year ago
I'm pretty confident I know the right approach for this. Option B seems like the way to go - using the user record field to apply the security rules. That way, we don't have to maintain multiple dashboards or datasets, which could get messy.
EL
Ellsworth
1 year ago
The NPSP version number is definitely going to be in the custom field definition detail, so I'm going to select option C.
BU
Buck
1 year ago
Okay, let me think this through step-by-step. Containers allow you to package an application with all of its dependencies into a standardized unit for software development. That would definitely provide the isolated environments the question is asking for. And containers can be spun up and torn down quickly, which is another key requirement. I'm going to go with containers as the best solution here.
SH
Sharen
1 year ago
Okay, let me break this down step-by-step. We have an Azure subscription, a Log Analytics workspace, and Security Center enabled. To get the VMs reporting to the workspace, I think we need to create a Workflow automation in Security Center. That should do the trick.
EL
Elsa
2 years ago
A) It is more volatile and needs to be highly structured. Hmm, I thought Reference data was supposed to be less volatile than Master data.
AL
Alica
2 years ago
C) It always has foreign database keys to link it to other data. I'm not sure that's always true for Reference data, seems a bit too specific.
TE
Terry
2 years ago
D) It is less volatile, less complex, and typically smaller than Master Data sets
JA
James
2 years ago
A) It is more volatile and needs to be highly structured
FL
Flo
2 years ago
E) It provides data for transactions. This is a key characteristic of Reference data that helps distinguish it from Master data.
BR
Brent
2 years ago
I think Reference data is less volatile, less complex, and typically smaller than Master Data sets. So, I would choose option D.
GL
Glory
2 years ago
D) It is less volatile, less complex, and typically smaller than Master Data sets. This sounds like the most accurate description of Reference data to me.
LE
Leota
2 years ago
E) It provides data for transactions
DE
Delmy
2 years ago
B) It is always data from an outside source such as a governing body
WI
Winfred
2 years ago
D) It is less volatile, less complex, and typically smaller than Master Data sets
SA
Samira
2 years ago
A) It is more volatile and needs to be highly structured
CA
Cassandra
2 years ago
D) It is less volatile, less complex, and typically smaller than Master Data sets
JA
Jacquelyne
2 years ago
A) It is more volatile and needs to be highly structured
LE
Leigha
2 years ago
That's a good point, Dallas. It does make sense that Reference data comes from an external source. Maybe I should reconsider my answer.
DA
Dallas
2 years ago
I disagree, I believe Reference data is always data from an outside source, like a governing body. Option B seems more fitting to me.
LE
Leigha
2 years ago
I think Reference data is more volatile and needs to be highly structured, so I would go with option A.