The term “reliability” is the term used to describe processes that ensure that personal information is collected legally, stored in a secure manner and is never shared or used in violation of rights of a person. It covers everything from ensuring data collection tools adheres to industry standards to the education of data collectors, as well as providing clear guidelines for the management of data.
It is important to differentiate between the reliability of data (such as whether the exact outcome could be obtained in the event of a repeat measurement) and data validity (such as whether it accurately measures what it is designed to measure). While data reliability is focused on consistency (such as whether the exact outcome could be achieved when the measurement is repeated) However, data validity is more concerned about the accuracy of the data (like whether it accurately measures what it was intended to measure).
Unreliable data can have many negative effects. If a business is dependent on non-reliable data to make its decisions, it may end up wasting money, or investing in unsuccessful initiatives. It could also cause a loss of trust among customers, employees, and partners, and reduce accountability. In some cases, using inaccurate data could have legal and regulatory consequences.
There are a variety of ways to improve the reliability of data. Some of the most effective strategies are using standard methods, educating data collectors and offering reliable tools. It is also essential to create clear data retention policies and create Board Meetings feedback loops for users to report issues. Additionally, it’s essential to ensure the integrity of data by making sure that all systems are properly back up and backup and recovery processes work according to plan.