Data Quality Assessment
From Open Risk Manual
Contents
Definition
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- Check that copies of cited references have been archived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