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

Reviewing the relevant data quality metrics for financial data and transactions

In the previous section, we discussed the importance of understanding the impact of data integrity. In this section, we will cover the different data quality metrics that we will use later in our scorecards.

While data quality and data integrity are closely related concepts in the field of data management, they each focus on different aspects of how data is maintained and utilized within an organization.

Note

To help explain the difference between data integrity and data quality, imagine a shipping company that needs to deliver packages to a particular address. To get the package where it needs to be, the company has to ensure that the parcel is sealed properly and remains intact during transit. Not only that, it also has to guarantee that it is delivered in a timely manner to the correct address and that it fits the customer’s expectations. Connecting this with the concepts of data integrity...