Data reconciliation is the act of making apparently conflicting data compatible and reliable. Often data sets that are very similar go through data reconciliation processes.
We can provide a comprehensive data reconciliation service. Data reconciliation will usually consist of data that is very similar to the original data, this could be a reconciliation between the same data from two different sources, either internal or external, for example customer data during a merger or acquisition or it could be transaction data.
DQ Rule Books will provide a report tailored to your organisational needs, the report will detail all reconciliation’s or the lack of data reconciliation, subject to your requirements. As with all services provided by DQ Rule Books, original and newly created data sets will be disseminated within your organisation subject to your wishes.
WHY IS DATA RECONCILIATION IMPORTANT?
Data reconciliation is important after data migration or when one element is subject to change over short periods of time (such as account balances).
When you might use data reconciliation:
- Financial Reconciliation – You may want to ensure that the money leaving an account matches the amount spent.
- Reconciliation between two versions of the same data from different points in time – Checking that all added and/or lost data between one point and another can be accounted for and that any processes to add or erase data have been successful.
- Ensures transformation processes are working as expected.
- Ensures data is consistent, improving an organisations data quality.
- Ensures financial values are consistent between systems.
- Help deter fraudulent behaviour.