Data decay example use

Data decay can be used, for example, in the following way.

A life insurance company might have multiple systems that store client information, such as the client's date of birth. The date of birth that is stored in the life insurance system must be accurate, because it is used to calculate premiums, mortality calculation, reserves, and other items. However, the date of birth stored might be different from the date of birth that is stored in the Non Registered SegFund system, where the date of birth is not actually mandatory and might be stored as a defaulted value, for example, Jan 01.

When this party information with two different dates of birth is reconciled as part of the data stewardship suspect processing, the Data decay and Source Values information in the data is used to ensure that the most accurate data is carried over to a new party during a collapse process. The decision process that determines which data to use is much more effective and less prone to error: the system knows the source, the last used date, and the last verified date for key attributes and objects. In the example described, if the system knows that Jan 01 is inserted as a default value, then it can more accurately determine that Jan 01 is not the party's actual date of birth if two different birth dates are supplied.