What is taxonomy in SAP MDM - SAP NetWeaver Master Data Management?

SAP Term: taxonomy

• Component: MDM

• Component Name: SAP NetWeaver Master Data Management

• Description: A classification system that typically consists of a hierarchy of categories. Catalog items are classified into a hierarchy of categories for ease of searching and maintaining.

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• Key Concepts: 
  Taxonomy is a hierarchical structure of categories and subcategories used to organize data in SAP NetWeaver Master Data Management (MDM). It is used to classify and categorize data into meaningful groups, making it easier to search and analyze. 
  
  How to use it: 
  Taxonomy can be used to organize data in MDM by creating a hierarchical structure of categories and subcategories. This structure can be used to classify and categorize data into meaningful groups, making it easier to search and analyze. 
  
  Tips & Tricks: 
  When creating a taxonomy, it is important to consider the purpose of the taxonomy and the types of data that will be stored in it. This will help ensure that the taxonomy is organized in a way that makes sense for the data being stored. Additionally, it is important to keep the taxonomy up-to-date as new data is added or removed. 
  
  Related Information: 
  Taxonomies are also used in other areas of SAP such as Business Intelligence (BI) and Enterprise Resource Planning (ERP). Additionally, taxonomies can be used to create relationships between different types of data, allowing for more efficient analysis and reporting.