What is master data in SAP PLM-PLC - Product Lifecycle Costing?

SAP Term: master data

• Component: PLM-PLC

• Component Name: Product Lifecycle Costing

• Description: Basic information about business-relevant objects that is required repeatedly in different contexts, such as materials or activity types. This data typically remains unchanged over a longer period of time.

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• Key Concepts: 
  Master data in SAP PLM-PLC Product Lifecycle Costing is a set of data that is used to define the characteristics of a product or service. This data includes information such as product name, description, cost, and other related information. Master data is used to track the lifecycle of a product or service from its conception to its end of life. 
  
  How to use it: 
  In SAP PLM-PLC Product Lifecycle Costing, master data is used to define the characteristics of a product or service. This data can be used to track the lifecycle of a product or service from its conception to its end of life. The master data can also be used to calculate the cost of a product or service over its lifecycle. 
  
  Tips & Tricks: 
  When creating master data in SAP PLM-PLC Product Lifecycle Costing, it is important to ensure that all relevant information is included. This will help ensure that the cost of a product or service can be accurately calculated over its lifecycle. Additionally, it is important to keep the master data up-to-date in order to ensure accurate calculations. 
  
  Related Information: 
  For more information on master data in SAP PLM-PLC Product Lifecycle Costing, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_PLM_PLC_Product_Lifecycle_Costing/7.5/en-US