Data Quality Assessment

From Open Risk Manual


Data Quality Assessment is the process of reviewing data or data related processes with a view of establishing the level of Data Quality. The precise elements depend heavily on context.

Data Gathering, Input and Handling Activities

  • Check a sample of input data for transcription errors
  • Identify spreadsheet modifications that could provide additional controls or checks on quality
  • nsure that adequate version control procedures for electronic files have been implemented

Data Documentation

  • Confirm that bibliographical data references are included in spreadsheets for all primary data
  • Check that copies of cited references have been archived
  • Check that assumptions and criteria for selection of methods, data, parameters etc are documented
  • Check that changes in data or methodology are documented

Checking Calculations

  • Check whether units, parameters, and conversion factors are appropriately labeled
  • Check if units are properly labeled and correctly carried through from beginning to end of calculations
  • Check that conversion factors are correct
  • Check the data processing steps (e.g., equations) in the spreadsheets
  • Check that spreadsheet input data and calculated data are clearly differentiated
  • Check a representative sample of calculations, by hand or electronically
  • Check some calculations with abbreviated calculations (i.e., back of the envelope calculations)
  • Check the aggregation of data across source categories, business units, etc.
  • Check consistency of time series inputs and calculations