What do you understand by Reference Data Sharing?

What do you understand by Reference Data Sharing?
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Answer :

In oracle Fusion Reference data sharing facilitates sharing of configuration data such as jobs, grades across business units. It can be understood as buckets of reference data assigned to multiple business units. It helps to reduce duplication and maintenance by sharing common data across business entities where appropriate. In Oracle Fusion Applications reference data sharing feature is also known as SetID
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