* Historical Perspective of Master Data:Maintaining historical data about master data objects is crucial for various reasons.
* Reasons for Importance:
* Provides an audit trail:Keeping historical data allows organizations to track changes and understand the evolution of data over time, which is essential for auditing purposes.
* May be required in litigation cases:Historical data can serve as evidence in legal disputes, demonstrating the state of data at specific points in time.
* Attributes about Master Data subjects evolve over time:As entities change, such as customers moving or changing names, maintaining historical data allows for accurate tracking of these changes.
* Enables business analytics to determine the root cause of behavioral changes:Historical data can help in analyzing trends and identifying reasons for changes in business metrics or customer behavior.
* Conclusion:All the provided reasons collectively highlight the importance of maintaining a historical perspective of master data.
References:
* DMBOK Guide, sections on Master Data Management and Data Governance.
* CDMP Examination Study Materials.