Net Asset Flow Calculation Through Common-Scheme Data Normalization
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Solution Overview
Problem
Institutions face challenges in accurately calculating net asset flows due to data inconsistencies from various sources, which are often formatted differently and require manual processing, limiting real-time tracking and performance-based incentives.
Innovation Solution
A system and method for normalizing and transforming transaction event data from multiple sources into a common data scheme, enabling real-time calculation of net flows, including a data normalization model, ETL tool for data extraction, transformation, and loading, and a feedback loop for non-compliant data.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If data from multiple sources is manually processed, then data accuracy can be maintained, but processing time increases and real-time tracking is limited
Solution Approach 1:
The patent replaces manual mechanical data processing with an automated computer system that extracts, transforms, and loads data from multiple sources. The system automatically normalizes data formats, validates data quality, and calculates net flows without human intervention, achieving both high accuracy and real-time processing capabilities.
Solution Approach 2:
The system performs self-validation and self-correction through automated data quality checks. When data does not meet quality standards, the system automatically identifies issues and requests corrections from appropriate sources, reducing the need for manual verification while maintaining data accuracy.
2Stability of the object's composition
If data from various sources is normalized to a common format, then data consistency improves, but system complexity increases
Solution Approach 1:
The patent implements a universal data normalization layer that handles multiple data sources with different formats through a single standardized interface. This normalization layer transforms diverse incoming data into a common internal format, allowing the core calculation engine to process all data uniformly without needing source-specific processing logic.
Solution Approach 2:
The system introduces a data normalization intermediary layer between the diverse data sources and the net flow calculation engine. This intermediary automatically transforms and standardizes data from various sources into a consistent format, shielding the core system from data format variations and reducing overall system complexity.
3Reliability
If net flow calculations are performed daily, then business health tracking improves, but computational resources increase
Solution Approach 1:
The system performs continuous net flow calculations without interruption, processing data as it becomes available from multiple sources. This continuous operation provides up-to-date business health tracking while optimizing computational resource usage through efficient data processing pipelines and incremental updates rather than complete recalculations.
Solution Approach 2:
The system performs preliminary data validation, normalization, and filtering before the actual net flow calculation. By preparing and pre-processing data in advance, the system reduces the computational burden during the final calculation phase, enabling frequent daily executions without excessive resource consumption.
Data Source
AI summary
Methods, systems, apparatuses, and non-transitory computer readable media are provided for calculating a net amount of assets. The operations may include receiving data from a transmission server in communication with a plurality of input sources, sending the data to a database, transforming the data into normalized data elements, analyzing the normalized data, transmitting a notification to an administrative entity to provide at least one supplementary data element, transforming the at least one normalized data element that complies with the common data scheme into tabulated data, calculating a net flow associated with the received data, based on the tabulated data, and sending the net flow calculation and the tabulated data to at least one electronic device associated with an external entity.