Master Data:
Master data is data which is frequently read, but rarely updated like : Name, Address -InfoObject
It is a one time data...
for example - if there is material X. The description of X, attributes like what type of material, is it a finished goods , prices...
for real time example : your Bank account number is Master Data .
your Bank transactions is Transaction Data.
Transactional Data:
this data will change frequently .example is goods in ware house data which change after every purchase order.
Transactional data is the data which is changed wthin short perid of time.
Regards,
Bastin.G