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Managing Data Integrity for Finance
Managing Data Integrity for Finance

Managing Data Integrity for Finance: Discover practical data quality management strategies for finance analysts and data professionals

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Managing Data Integrity for Finance

Recognizing the Importance of Data Integrity in Finance

Imagine if everyone online suddenly started complaining on social media that their bank savings accounts had unauthorized deductions. This is exactly what happened when thousands of customers of one of the major banks in Southeast Asia discovered that their account balances ended up negative due to duplicate transactions! This led to customers feeling anxious while reports of this data integrity issue went viral online. How would you feel if your hard-earned money suddenly disappeared overnight due to a data integrity issue?

Maintaining the integrity, accuracy, and reliability of financial data is key to the success of any organization. Data integrity plays a crucial role in finance, as business owners and decision-makers utilize financial and operational data in making long-term business decisions. If you’ve been working as a finance professional for a long time, you probably know by now that data integrity management plays a significant role in helping ensure compliance and avoiding significant financial penalties. Understanding the relevant concepts and strategies is the first step for every professional trying to master the art of financial data integrity management. In this introductory chapter, we will examine the importance of data integrity in finance and demystify various key concepts relevant to the succeeding chapters of this book.

That said, we will cover the following:

  • Understanding the impact of data integrity issues in finance
  • A quick tour of concepts relevant to data integrity management
  • Debunking the myths and misconceptions surrounding finance data integrity management

With these in mind, let’s get started!

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Key benefits

  • Accelerate data integrity management using artificial intelligence-powered solutions
  • Learn how business intelligence tools, ledger databases, and database locks solve data integrity issues
  • Find out how to detect fraudulent transactions affecting financial report integrity

Description

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.

Who is this book for?

This book is for financial analysts, technical leaders, and data professionals interested in learning practical strategies for managing data integrity and data quality using relevant frameworks and tools. A basic understanding of finance concepts, accounting, and data analysis is expected. Knowledge of finance management is not a prerequisite, but it’ll help you grasp the more advanced topics covered in this book.

What you will learn

  • Develop a customized financial data quality scorecard
  • Utilize business intelligence tools to detect, manage, and resolve data integrity issues
  • Find out how to use managed cloud-based ledger databases for financial data integrity
  • Apply database locking techniques to prevent transaction integrity issues involving finance data
  • Discover the methods to detect fraudulent transactions affecting financial report integrity
  • Use artificial intelligence-powered solutions to resolve various data integrity issues and challenges
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Publication date, Length, Edition, Language, ISBN-13
Publication date : Jan 31, 2024
Length: 434 pages
Edition : 1st
Language : English
ISBN-13 : 9781837630141
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Product Details

Publication date : Jan 31, 2024
Length: 434 pages
Edition : 1st
Language : English
ISBN-13 : 9781837630141
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Table of Contents

15 Chapters
Part 1: Foundational Concepts for Data Quality and Data Integrity for Finance Chevron down icon Chevron up icon
Chapter 1: Recognizing the Importance of Data Integrity in Finance Chevron down icon Chevron up icon
Chapter 2: Avoiding Common Data Integrity Issues and Challenges in Finance Teams Chevron down icon Chevron up icon
Chapter 3: Measuring the Impact of Data Integrity Issues Chevron down icon Chevron up icon
Part 2: Pragmatic Solutions to Manage Financial Data Quality and Data Integrity Chevron down icon Chevron up icon
Chapter 4: Understanding the Data Integrity Management Capabilities of Business Intelligence Tools Chevron down icon Chevron up icon
Chapter 5: Using Business Intelligence Tools to Fix Data Integrity Issues Chevron down icon Chevron up icon
Chapter 6: Implementing Best Practices When Using Business Intelligence Tools Chevron down icon Chevron up icon
Chapter 7: Detecting Fraudulent Transactions Affecting Financial Report Integrity Chevron down icon Chevron up icon
Part 3: Modern Strategies to Manage the Data Integrity of Finance Systems Chevron down icon Chevron up icon
Chapter 8: Using Database Locking Techniques for Financial Transaction Integrity Chevron down icon Chevron up icon
Chapter 9: Using Managed Ledger Databases for Finance Data Integrity Chevron down icon Chevron up icon
Chapter 10: Using Artificial Intelligence for Finance Data Quality Management Chevron down icon Chevron up icon
Index Chevron down icon Chevron up icon
Other Books You May Enjoy Chevron down icon Chevron up icon

Customer reviews

Rating distribution
Full star icon Full star icon Full star icon Full star icon Full star icon 5
(4 Ratings)
5 star 100%
4 star 0%
3 star 0%
2 star 0%
1 star 0%
Amazon Customer Feb 08, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
This book dives deep into various concepts and topics for ensuring the data integrity of financial data. In addition to this, the book features a LOT of examples, solutions, and use cases relevant to data quality and data integrity management.Definitely a must read book for finance, data, and tech professionals!
Amazon Verified review Amazon
Dennis David Mar 20, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
I was in the first chapter of the book, and I know this will be helpful for finance professionals working in the financial data analysis field. This book offers a comprehensive approach to ensuring data quality and provides practical strategies for maintaining and enhancing data integrity crucial to financial data management. This ensures accurate reporting and prevents unnecessary waste of financial resources. The book starts with a comprehensive knowledge of finance terms and presents real-world examples. Although I work in a similar field where data integrity is crucial to patient care and insurance claims, I learned a great deal of information that I enjoyed learning. As a technical person, I also liked how the Python and SQL code examples are clean and straight to the point.If you would like to have an arsenal of resources that you can reference when you need it, especially if you work in finance data analysis, this book is a must-have.
Amazon Verified review Amazon
Bill S Mar 26, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
I was given the opportunity to peruse a copy of this book and WOW - it is jam-packed full of good advice and best practices, and TONS of specific how-to's for doing the work.Given my area of expertise, I zoomed in on the 3 chapters focused on using business intelligence tools to do the job, which are very thorough showing how to use Power BI, Tableau, and Alteryx to accomplish specific tasks. This is a really great resource. And it's chock full of screenshots and specific how-to's to get these tools to do what you need.I haven't read the rest of the book yet, but based on the table of contents and some quick scanning, it seems to be a very complete and clear source of information that will be useful to anyone in finance doing this work.
Amazon Verified review Amazon
H2N Apr 01, 2024
Full star icon Full star icon Full star icon Full star icon Full star icon 5
This is a good guide for finance, data, and technical professionals seeking to manage financial data integrity effectively.The book gives introduces understanding and implementing strategies for maintaining data reliability and compliance, addressing the global gap in financial data analysis and management with topics from data integrity issues to the use of business intelligence tools and artificial intelligence for data quality management.
Amazon Verified review Amazon
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All orders received before 5 PM U.K time would start printing from the next business day. So the estimated delivery times start from the next day as well. Orders received after 5 PM U.K time (in our internal systems) on a business day or anytime on the weekend will begin printing the second to next business day. For example, an order placed at 11 AM today will begin printing tomorrow, whereas an order placed at 9 PM tonight will begin printing the day after tomorrow.


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