Data Domain

Definition:

A logical representation of a category of data that has been designated and named.

Commentary:

Data domains are not physical repositories or databases. Instead, they are logical categories or groupings of data that are deemed important and necessary to a firm’s normal business operation. Data domains include both internally generated data as well as externally acquired data.

Examples of data domains might include product data, customer data, trade data, pricing data, index data, risk data. It is imperative that these strategic categories of data are identified, defined and inventoried to ensure their proper maintenance and use throughout the organization.