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Related to Data scrubbing: data mining, Data scraping
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Different steps in the data scrubbing process require different levels of detail, much of it unnecessary (such as a different number of decimal places).
It removes issues associated with different languages from different data sources, 'unclean' data, removing the need for additional data scrubbing, and increasingly intricate terms and conditions which continue to make corporate actions one of the most complex post-trade activities to manage.
With a 100% replacement guarantee and continual data scrubbing, NetProspex is the leading source of accurate, crowd-sourced business intelligence.
Data standards are being developed to greatly reduce the cost companies currently incur for customized integrations, data scrubbing, manual data entry and re-entry.
Specifically, Mortgage Technology cited new features of QuestSoft's HMDA RELIEF software, which increased the quality of data scrubbing tools and efficiency of file analysis tools for lenders.
The lack of such relationship connectivity and systematic data scrubbing recently led some very large financial institutions to being fined substantial penalties for maintaining a labyrinthine network of trusts and companies created by the former Chilean Dictator Augusto Pinochet.