What is good quality data?
Good quality data means that all master data is:
- time stamped
- industry standards based.
Without all these five elements data can not be considered to have real quality.
What is the difference between ‘Data Quality’ and ‘Data Accuracy’?
Data quality is the term used for information that has all 5 elements of quality at once: completeness, consistency, accuracy, being time-stamped and standards-based.
- Data Accuracy is the element of data quality that deals with the information being exact when describing the physical characteristics of products
- Data Quality is the combination of all five elements.