Data Quality Engineering in Financial Services

Chapter 4. DQS Model Example

This chapter will demonstrate the use of the DQS framework. This framework defines the data quality tolerances for applicable dimensions for data in data volumes, as required by business functions. The model illustrated in Figure 4-1 is presented like a manufacturing assembly line, with 11 business functions shown from left to right. This is a simple model that provides sufficient details to illustrate the DQS framework and the concept of fit-for-purpose data. Your firm is likely organized differently, with different business functions, applications, and data requirements per function. The model illustrates the DQS for a subset of data volumes intended for use by downstream consumers and does not fully illustrate all DQS requirements for every function.

Figure 4-1. DQS model (large format, color version)

You can use this model as a template and create a similar model to reflect your business functions, data requirements, and the DQS for data volumes you use or that your business functions or applications use. You can also apply this model more broadly to data that is used by many business functions and applications across your firm.

The business functions in this model are defined as follows:

Data Management function

Ingests volumes of data from third-party data vendors and applies data quality validations to the data according to ...