Focus on Data Quality and Data Lineage for improved trust and reliability
As organizations continue doubling their reliance on data, the question of having credible data becomes more and more important. However, with the increase in volume and variety of the data, high quality and keeping track of where the data is coming from and how it is being transformed become essential for building credibility with the data. This blog is about data quality and data lineage and how both concepts contribute to the creation of a rock-solid foundation of trust and reliability in any organization.
The Importance of Data Quality
Assurance of data quality is the foundation of any data-oriented approach. Advanced information’reflects realities of the environment accurately, comprehensively, and without contradiction and delays.’ It makes it possible for decisions that are made on the basis of this data to be accurate and reliable. However, the use of inaccurate data leads to mistakes, unwise decisions to be made, and also demoralization of stakeholders.
Accuracy:
Accuracy, as pertains to data definition, means the extent to which the data measured is actually representative of the entities that it describes or the conditions it quantifies. Accuracy in numbers reduces the margin of error in the results of analysis and conclusions made.
Completeness:
Accurate data provides all important information requisite in order to arrive at the right decisions. Missing information can leave one uninformed, thus leading to the wrong conclusions.
Consistency:
It makes data consistent within the different systems and databases within an organization. Conflicting information is always confusing and may not allow an accurate assessment of a given situation to be made.
Timeliness:
Data is real-time; hence, decisions made reflect on the current position of the firm and the changes that are occurring within it.
When data is being treated as an important company asset, it becomes crucial to maintain the quality of the data and to know its origin in order to build its credibility. Companies that follow data quality and lineage will be in a better position to take the right decisions, follow the rules and regulations set for them, and be in a better position compared to their competitors. If adopted in their data management process, these practices can help organizations realize the full value of their data, encompassing certainty and dependability central to organizational success.
To Know More, Read Full Article @ https://ai-techpark.com/data-quality-and-data-lineage/
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