A project team labels permit-type code lists as 'master data' in the same sense as contractor and parcel entities. What distinction should be clarified?
Select an answer to reveal the explanation.
Short Explanation
Permit-type codes are the menu of allowed choices; the contractor and the parcel are the diners and the table. Related, yes—same dish, no. Reference data management sits next to MDM, not inside the same definition.
Full Explanation
Master data typically means shared core business entities (party, location, asset). Reference data comprises relatively static code lists and classifications that describe or constrain those entities and transactions. They are adjacent and often co-governed, but treating every code list as identical to entity MDM blurs scope, ownership, and tooling choices.