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

Introduction to ledger databases

In the previous chapters of this book, we primarily made use of the capabilities of RDBMSs to help us solve various types of data integrity issues and challenges. While this type of database would be a good default option for most finance and technology professionals, other types of purpose-built databases can offer significant advantages in specific use cases. These purpose-built databases may include NoSQL databases, graph databases, time-series databases, and more, each designed to excel in handling particular data models and workloads. One such example that maintains an immutable and verifiable record of transactions over time is the ledger database. This type of database makes use of financial ledger concepts where each journal is appended only and cannot be altered once recorded. Because of these properties, companies from various industries that have strict requirements, which require transparency can make use of this type of database.

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