Data Sourcing
From Open Risk Manual
Definition
Data Sourcing (also Data Collection) is the process of extracting data from external or internal (front/back office systems) comprising an institution's Data Infrastructure for diverse purposes of Risk Management, Portfolio Management and/or other business objectives.
Data Sourcing is particularly important for the purposes of Model Development and Model Validation.
Issues and Challenges
- Lack of Risk Data Standards can substantially complicate the sourcing of relevant data
- Incomplete or otherwise faulty data sourcing processes can potentially bias the data samples and thereby limit model quality.
- Data Provenance
