Development and ultimate success in monitoring data quality for your business are not possible without tracking the progression of results
In the business world, it is crucial to track even the smallest record, the smallest thing, because everything matters
Table of Contents
What is a KPI?
Data quality key performance indicators (KPIs), are a quantitative measure of data quality. A data quality measurement system evaluates data quality values at measurement points at a certain frequency. The most important dimensions that data quality can be assessed are:
Why is data quality KPIs important for your business?
Data quality is essential because you are assured of making the best decisions using accurate data. A better understanding of customer data leads to a greater understanding of customer needs and higher revenues for your company. If you use low-quality data, your analysis is of lower quality and you cannot fully understand customer needs.
Better data quality relative to your competitors will allow you to spot market trends and industry changes more quickly. This will allow you to take advantage of new opportunities and attract more customers.
Collecting reliable data and updating existing records allows you to conduct more valuable analyses. It also allows you to keep in touch with them with:
- verified e-mail addresses,
- phone numbers
This information helps with effective marketing and efficient use of resources.
Tools like DQO allow you to streamline and optimize data verification. Data management has never been easier.
How to visualize the progress of KPIs?
To manage KPIs efficiently, you need to have access to transparent visualizations. DQO gives you access to tools for this – including Data Studio.
You need a transparent visualization of all the metrics in order to effectively run analyses for your business. For example, let’s take that your company is interested in measuring uniqueness, consistency, and validity metrics
You are interested in their values of them over a given period of time. You want to group the results by source, region and the total score.
An effective KPI dashboard includes a mix of KPIs that are aligned with a balanced scorecard. They contain the most important information and the ability to track changes over time. You want to make sure you include all the important aspects of your business required to monitor the progress of your company’s data quality toward its most important goals and objectives.
In this article, we showed you why KPIs are essential for your business and how to proceed to analyze them effectively.
For more information, we highly recommend you to take a look at the DQO.ai documentation page and other articles.