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Five Data Terms You Need To Know

Data sharing refers to the practice of giving data users in another organisation access to a data resource. You may want to grant access to your data to a researcher or a business that has the skills or technology to create value from the data, such as new insights.

1. Data Ethics

Data ethics deals with the identity, ownership, privacy, and reputation of data. It is concerned with moral issues related to data, including how it is generated, recorded, curated, processed, disseminated, shared, and used. The term reminds us of the need to uphold the rights of data owners and the right ways to convey data without distortion or undue censorship.

2. Reference Data

It is always necessary to classify data systematically. Reference data is the data that is used to classify or categorise other data. Common examples include country codes, units of measurements, and fixed conversion rates. Reference data has to be precise so that humans and machines can use it to safely convey meaning and make decisions. It helps to promote the integrity of data.

3. Data Quality

Data quality can be defined as the overall utility of a dataset as a function of its ability to be easily processed and analysed for other uses. It is concerned with the integrity and usefulness of data. Quality data is data that is fit for the intended purpose. Such data, when analysed, will give correct and useful results.

4. Metadata

Metadata is primarily defined as a set of data that describes and gives information about other data. It adds meaning and context to specific data and also helps to assure the quality of that data. Metadata provides the information that will make finding, classifying, and working with data easier.

5. Data Requirement

Data requirement establishes the data needed to achieve a particular objective. It can be in the form of a statement that specifically describes the needed data, as well as the quality, in order to achieve a defined purpose or outcome. Data requirement can expressly establish the process to identify, prioritise, formulate, and validate data for specific purposes.

Understand Data Terms to Get The Right Solution For Your Business

Your knowledge of data terms can help you make more swift and definitive decisions when it comes to your data. We are here to offer our assistance in aligning your business decisions with data.

Contact us and we will help you get started as a data-driven business.

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