Timeliness

Definition:

(In the context of Data Management) a measurement of the degree to which data is both representative of current conditions and available for use.

Commentary:

Timeliness is a measurement of how well content represents the current market and business conditions as well as whether the data is functionally available when needed. Timeliness is one of the seven Data Quality Dimensions.

Examples:
– A file delivered too late for a business process or operation
– An issuance or corporate action not delivered when it was announced
– A credit rating change not updated on the day it was issued
– A new prospectus not given an official number from the national numbering agency