Book Image

Managing Data Integrity for Finance

By : Jane Sarah Lat
Book Image

Managing Data Integrity for Finance

By: Jane Sarah Lat

Overview of this book

Data integrity management plays a critical role in the success and effectiveness of organizations trying to use financial and operational data to make business decisions. Unfortunately, there is a big gap between the analysis and management of finance data along with the proper implementation of complex data systems across various organizations. The first part of this book covers the important concepts for data quality and data integrity relevant to finance, data, and tech professionals. The second part then focuses on having you use several data tools and platforms to manage and resolve data integrity issues on financial data. The last part of this the book covers intermediate and advanced solutions, including managed cloud-based ledger databases, database locks, and artificial intelligence, to manage the integrity of financial data in systems and databases. After finishing this hands-on book, you will be able to solve various data integrity issues experienced by organizations globally.
Table of Contents (16 chapters)
1
Part 1: Foundational Concepts for Data Quality and Data Integrity for Finance
5
Part 2: Pragmatic Solutions to Manage Financial Data Quality and Data Integrity
10
Part 3: Modern Strategies to Manage the Data Integrity of Finance Systems

Guaranteeing transaction integrity with database locks

Figure 8.36 illustrates how a row-level lock ensures that the transaction is completed first before the next one is run:

Figure 8.36 – Workflow with a row-level lock

Figure 8.36 – Workflow with a row-level lock

Step 3 for Person A will add $10 to the price, making it $110. Because a row-level lock has been applied, Person B will not be able to update the price for Ticket X until the update operation of Person A has finished. Then, once the change has been made for Person A, the update operation of Person B will proceed (after waiting in the queue), adding the $15 to the correct revised price of $110, leading to $125. Amazing, right?

Note

Note that Person A and Person B have no idea that another concurrent operation is happening! Row-level locks simply ensure that even if multiple transactions are happening concurrently, the operations updating the same record would queue automatically and the numbers would still add up!

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