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Ryan,
metadata is information about data.
e.g. data would be "Ryan" "Gaffuri"
metadata would be "First Name" of type string in database "employees"
updated monthly as part of payroll.
Technical metadata in a database is held in things like the dictionary & internal tables, business metadata is often held in design documents & repositories.
Metadata is incredibly important & the older repository vendors have sent companies off on the wrong track (spending millions in the process) now companies are waking up to the value of their metadata & how managing it well can benefit them.
For more info, I would search for books by Adrienne Tannenbaum, David Marco & Wayne Eckerson. The OMG have good info (they set metadata management standards like MOF, XMI & CWMI) at www.omg.org.
The industry analysts like Doug Laney do excellent work at MetaGroup, Gartner & Giga.
You will find lots of info at our website - we have good materials as we sell the leading MOF based repository (MetaMatrix MetaBase) & Enterprise Information Integration product (MetaMatrix Information Integration Server).
Regards,
David Penney CTO-Europe http://www.metamatrix.com