4.1.8 Business Term List of Values

The List of Values (LoV) for Business Terms consists of a predefined set of acceptable values or categories associated with a specific Business Term. These values establish clear boundaries for data entry, ensuring consistency, standardization, and accuracy across systems and processes. For example, the Business Term, Account Status might have a List of Values such as "Active, Inactive, Closed, and Suspended. The LoV is typically managed in lookup tables within the data model and plays a key role in validation, reporting, and analysis. By defining and enforcing the List of Values, organizations can reduce errors, simplify data interpretation, and ensure consistent application of the term across various operational and analytical contexts.