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Article: Fully integrated data base can eliminate chaos. (Column)
- Article from:
- American Banker
- Article date:
- August 4, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The effects of data chaos are debilitating. As a cure, I recommend establishment of a detailed, integrated, and fully reconciled data base.
In practical terms, creating an integrated financial reality in a banking institution takes the form of creating an enterprise-wide profitability data base that all decision-support systems will use as their definitive source for institutional data.
This article suggests guidelines that banks can follow in creating this data base.
Some Fundamental Principles
The exact form of a decision support data base will vary by institution. But it will always incorporate a few basic principles.
First, it will be functionally ...