15 January 2015

Business Intelligence: Single Version of the Truth (Definitions)

System of Record (SOR): "Also called Single Point of Truth (SPOT), is a method for addressing the data quality problems caused by having multiple, inconsistent representations of the same entity or entity attribute by designating one system as holding and maintaining the authoritative source." (John R Talburt, "Entity Resolution and Information Quality", 2011)

"The SSOT is a logical, often virtual and cloud-based repository that contains one authoritative copy of all crucial data, such as customer, supplier, and product details." (Leandro DalleMule &  Thomas H Davenport, "What’s Your Data Strategy?" , Harvard Business Review, 2017) [source

"A single source of truth (SSOT) is the practice of aggregating the data from many systems within an organization to a single location. A SSOT is not a system, tool, or strategy, but rather a state of being for a company’s data in that it can all be found via a single reference point." (MuleSoft) [source]

One version of the truth (or ‘single version of the truth’; or SVOT: "A technical concept describing the business analysis ideal of having either a single centralized database (data warehouse), or at least a distributed synchronized database, which stores all of an organization’s data in a consistent and non-redundant form. A combination of software, data quality, and strong data leadership can help enterprises and organizations achieve SVOT." (Insight Software)

Single Version of the Truth: "One single central data warehouse containing quality assured data that is delivered accurately through Business Intelligence reports. The opposite of this is numerous databases resulting in Business Users getting conflicting answers and results to the same question." (BI System Builders)

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