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Managing Data Integrity for Finance

You're reading from   Managing Data Integrity for Finance Discover practical data quality management strategies for finance analysts and data professionals

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Product type Paperback
Published in Jan 2024
Publisher Packt
ISBN-13 9781837630141
Length 434 pages
Edition 1st Edition
Languages
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Author (1):
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Jane Sarah Lat Jane Sarah Lat
Author Profile Icon Jane Sarah Lat
Jane Sarah Lat
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Table of Contents (16) Chapters Close

Preface 1. Part 1: Foundational Concepts for Data Quality and Data Integrity for Finance
2. Chapter 1: Recognizing the Importance of Data Integrity in Finance FREE CHAPTER 3. Chapter 2: Avoiding Common Data Integrity Issues and Challenges in Finance Teams 4. Chapter 3: Measuring the Impact of Data Integrity Issues 5. Part 2: Pragmatic Solutions to Manage Financial Data Quality and Data Integrity
6. Chapter 4: Understanding the Data Integrity Management Capabilities of Business Intelligence Tools 7. Chapter 5: Using Business Intelligence Tools to Fix Data Integrity Issues 8. Chapter 6: Implementing Best Practices When Using Business Intelligence Tools 9. Chapter 7: Detecting Fraudulent Transactions Affecting Financial Report Integrity 10. Part 3: Modern Strategies to Manage the Data Integrity of Finance Systems
11. Chapter 8: Using Database Locking Techniques for Financial Transaction Integrity 12. Chapter 9: Using Managed Ledger Databases for Finance Data Integrity 13. Chapter 10: Using Artificial Intelligence for Finance Data Quality Management 14. Index 15. Other Books You May Enjoy

Managing orphaned records

Orphaned records, as the name suggests, are records whose relationship to the parent record does not exist. If we delete Product_ID 151003 for Income protection insurance, this means that the transactions for this product are not referencing any financial information contained in the Product_Details table.

In some cases, if raw financial data is provided and generated by a Dev team, and the Dev team does not perform referential integrity checks, issues may occur. Thus being able to detect orphaned records, especially when dealing with multiple records, as early as possible is critical.

The next steps will cover how to do this in Power BI.

Identifying orphaned records in Power BI

Let’s go to Transform data and delete one of the product IDs. Select the Income protection insurance row and click on Remove Rows under the Home tab, as shown in Figure 6.40. Don’t worry, we can undo this step later, under APPLIED STEPS.

Figure 6.40 – Selecting Remove Bottom Rows under Remove Rows ...
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