What is reference data?

Reference data is a type of data that is used to categorize other data and provide context for it. It is typically used in databases, data warehouses, and other systems to help organize and classify different types of data.

Reference data is often used to establish the relationships between data elements and ensure that they are consistent and accurate. For example, reference data may include lists of valid values for certain fields, standardized codes for categorizing data, or rules for interpreting certain types of data.

Some common examples of reference data include lists of countries, currencies, industries, and product codes. Reference data is typically static and does not change frequently, making it a valuable tool for ensuring data quality and consistency.

Overall, reference data plays a critical role in data management and governance, helping organizations to maintain accurate and reliable data that can be used effectively for decision-making and analysis.