which of the following represent the four primary traits that help determine the value of data?
which of the following represent the four primary traits that help determine the value of data?
The four primary traits that help determine the value of data are:
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Information Type: Data can be classified into different types based on its purpose and usage. The two main types of information are transactional and analytical data. Transactional data refers to the records of individual business transactions, while analytical data focuses on aggregating and analyzing data for insights and decision-making.
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Information Timeliness: The value of data can change over time, depending on how recent or up-to-date it is. Timeliness refers to the relevance and currency of the data. Fresh and timely data is often more valuable as it allows for more accurate and informed decision-making.
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Information Quality: Data quality is a crucial factor in determining its value. Quality refers to the accuracy, completeness, consistency, and reliability of the data. High-quality data ensures confidence in its results and reduces the risk of making incorrect decisions based on faulty or inaccurate information.
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Information Governance: Data governance involves establishing policies, procedures, and controls for managing and protecting data assets. It includes defining roles and responsibilities, ensuring data privacy and security, and enforcing data quality standards. Effective information governance helps maintain data integrity, compliance, and trustworthiness, ultimately adding value to the data.
Understanding these four traits is essential for assessing the value of data and leveraging it effectively to drive business decisions and outcomes.