What Does Transactional Data Mean?
Transactional data are information directly derived as a result of transactions.
Unlike other sorts of data, transactional data contains a time dimension which means that there is timeliness to it and over time, it becomes less relevant.
Rather than being the object of transactions like the product being purchased or the identity of the customer, it is more of a reference data describing the time, place, prices, payment methods, discount values, and quantities related to that particular transaction, usually at the point of sale.
Techopedia Explains Transactional Data
Transactional data describes an internal or external event which takes place as the organization conducts business and can be financial, logistical or any business-related process involving activities such as purchases, requests, insurance claims, deposits, withdraws, etc.
Transactional data support ongoing business operations and are included in the information and application systems that are used to automate an organization’s key business processes such as online transaction processing (OLTP) systems.
It is grouped with its associated and references master data such as product information and billing sources.
