This recommended practice provides a systematic approach and governance framework to evaluate and enhance data quality. The assessment methodology is valuable input for organizations on how to establish best practices for achieving satisfactory data quality and considers both data quality and management capabilities.
Key benefits of the RP for data quality assurance
- Systematic approach and framework: The RP aims to provide the industry with a systematic approach and framework for assessing data quality management. It covers both evaluating data quality itself and assessing an organization’s data quality management capabilities.
- Best practices: The assessment methodology outlined in this RP serves as valuable guidance for organizations seeking to establish best practices for achieving satisfactory data quality. The RP builds upon standards and best practices in asset management, particularly data quality management. It aligns with ISO 55000 and views data within the context of a business portfolio of managed assets.
- Data as valuable assets: Recognizing data and information as valuable assets, the RP emphasizes their importance as prerequisites for operating physical assets (such as ships, oil rigs, and power grids).
- Business context: Rather than focusing solely on technical details, this RP considers data quality within the broader business context. It addresses the specific needs of managing a diverse asset portfolio.
- Risk analysis approach: The RP suggests a risk analysis approach for assessing data quality risks. By prioritizing mitigation activities based on risk scores and tolerance levels, organizations can allocate resources effectively.
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