Party Data Definition

 

Parties also have a different meaning from the perspective of different business functions. Marketing seeks to generate leads with prospects, service supports customers, procurement works with suppliers and human resources with employees

"Core party data" refers to the basic set of attributes, keys and relationships that describe all types of parties. There are several data domains that "attribute" or describe a person or business party. For the most basic data, like name, location and contact method there are often many valid entries. Identifiers are a collection of values unique to a person or legal entity, like social security number or federal tax identifier. There are often internal identifiers or additional industry specific identifiers such as a DEA number assigned to health care providers by the Drug Enforcement Administration. Parties are often best understood as their "type" in a specific context by industry, function and their relationship to account or contract. Parties always take on "roles" in relationship to other parties or to other fundamental domains like account.

Business applications that manage party data contain different implementations of a core party data model. Packaged applications from vendors like Oracle and SAP contain very complex widely deployed models such as Oracle’s Trading Community Architecture and SAP’s Business Partner. Leveraging IBM technology PQI makes it possible to resolve the semantics of how party has been implemented across the enterprise. Determine the actual number of parties in a data source or an enterprise, the relationships between parties and the quality of the attribute data.

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