Data Lineage: A Path to the Data-Driven Enterprise?
In recent years, the call for data-driven decisions and processes has grown rapidly in companies across every industry. Data-driven companies such as Apple, Alphabet, and Microsoft are now among the most valuable companies in the world. But in order to make data-driven decisions, different challenges concerning a company and its data (management) need to be solved. These include the challenge of keeping an overview of their own data stocks. An overview of one’s own data is playing an increasingly important role in the financial industry, too. Banks must be able to disclose their data to the regulator at any time, and regular reporting is becoming the norm. In this context, the principle of “data lineage” has become established. Based on the approach of metadata management, this concept enables the structuring and visualization of one’s data inventories and sources. The following article explains the most important basics of the topic “data lineage” and shows possible areas of application in the financial industry.Continue reading »