Question - What is Metadata, Master data and Transaction data
Answer -
Meta Data: Meta Data is data about Data. It tells you about the structure of data or MetaObjects.
Master Data: This Data is key business information like Customer information, Employee, Materials, etc. This is more like a reference data for Ex. If a customer orders 10 units of your product instead of asking the customer for his shipping address 10 times, the same can be referenced from the Customer Master Data.
Transaction Data: This is data related to day to day transactions.