Data Related Concepts

Data Quality

Data quality indicates how reliable a given dataset is. The data’s quality will affect the user’s ability to make accurate decisions regarding the subject of their study. High-quality data is collected and analyzed using a strict set of guidelines that ensure consistency and accuracy. To ensure high-quality data is collected, participants should agree on data quality standards such as validity, format, timeframe, and competence. According to Verified Market Research, data quality tools market size was valued at $932.8 Million in 2020 and is projected to reach $3,673.2 Million by 2028, growing at a CAGR of 18.2% from 2021 to 2028.

In this week’s Know Your Data {KYD}, we present to you a brief overview of data quality.