Global Option Set :
When we do not require any text field to enter any predefined values we always have the choice to create option sets/ pick list / drop downs. In Dynamics 365 CRM we call it as Option set.
We can have more than one pre-defined values in the list and make user to select the value from the list. There are two types of option sets in Dynamics 365 CRM. Local and global option set. Whenever we think the same optionset can be used in more than one entity then we go for a global option set.
Global option set can be used in multiple entities by pointing the local option set to global option set.
Advantage:
One time create and we can use it in multiple entities
Disadvantage:
However we have few disadvantages also in using global option set. Whenever customer says they do not want to use the option set anymore then we have to remove the global option set from the entity. But the existing data that was entered by users will also get deleted. We will lose the data in those records.
Solution to avoid data loss:
In these kind of situations we can use custom entity. Custom entity we can use it as lookup field instead of global option set. In case if the customer wants to remove the values then we can simply deactivate the records. When they want the data back then we can always reactivate the records.
Learn with Me 