Hi Rajeev,
the NO LOG option is only available for temporary tables. It switches off the Transient Journal, which is Teradata's transaction log. As a result insert/update/deletes usually run faster, but any error will simply empty the table as a rollback is not possible.
The Transient Journal is located in DBC, but this is just a dummy, it has no definition and can't be accessed by any means.
Dieter
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