Accuracy

Definition:

(In the context of Data Management) a measurement of the conformity to facts of data to its authoritative source.

Commentary:

Accuracy is a measurement of the precision of data. It can be measured against either original documents or authoritative sources and validated against defined business rules. Accuracy is one of the seven data quality dimensions.

Examples:
– Records that are wrong at a specified time (e.g., a record with an incorrect maturity date)
– Records that haven’t been refreshed or updated
– Records at the wrong level of precision (e.g., prices that were originally quoted at three decimal places, but cut-off and stored at two decimal places)