Data verification is a process in which different types of data are checked for accuracy and inconsistencies after data migration is done.
It helps to determine whether data was accurately translated when data is transferred from one source to another, is complete, and supports processes in the new system. During verification, there may be a need for a parallel run of both systems to identify areas of disparity and forestall erroneous data loss.
A type of Data Verification is double entry and proofreading data. Proofreading data involves someone checking the data entered against the original document. This is also time consuming and costly.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder of TBIL.co STATX Fund.