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Data quality 'important for international comparisons'
Aug 26 2010, 10:23 AM
Better standards of data quality are required around the globe, an expert has stated.
Writing for the Financial Times, Eli Noam, Professor of Finance and Economics at Columbia University, said that it can be difficult to make accurate comparisons between different countries' economic performance in various industries.
He gave the example of a recent audit in China, which found more than 80 per cent of companies had falsified their production accounts to make them appear more positive.
Professor Noam said it is important for data quality issues such as these to be tackled at an international level.
"Otherwise, we will have a situation like in environmental studies, where data has been abused in several instances and has lowered the credibility and the effectiveness of a whole field," he warned.
Earlier this week, a report by The Information Difference suggested that data quality and management processes can be improved by running data governance initiatives prior to, or alongside, them.
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