Midterm Prep Flashcards
(84 cards)
1
Q
What is the purpose of information quality?
A
- Maximizing the value and minimizing the risk of an organization’s information assets
- Assuring the information products produced by the organization create value for the people and systems who use them
VALUE + RISK + ASSURANCE
2
Q
What is IQ Principle #1
A
Data is a resource from which individuals and
organizations can produce information products for the purpose of creating value
information products + VALUE
3
Q
Data and information should be controlled as an
organizational asset!
A
IQ Principle #2
4
Q
What is value?
A
VALUE = BENEFITS - INVESTMENT
5
Q
What are the three ways value be measured?
A
- Monetary
- human (quality of life)
- mission accomplished
6
Q
Information can only produce value when it is used for some purpose!
A
IQ Principle #3
7
Q
Information should be managed as a product: the product of an information system, not a by-product!
A
IQ Principle #4
8
Q
How do you describe successful product management?
A
- Understand information consumer needs
- Manage information as the product of a well-defined production process
- Manage the life cycle of the information product
- Appoint an information product manager
9
Q
Information Quality and Data Quality are related but are different in their focus
A
IQ Principle #5
10
Q
To what is Information Quality applicable?
A
information products, including their governance and use
11
Q
How is Data Quality measured?
A
– measured in percentage: degree to which data requirements are met
12
Q
What is the difference between Information Quality and Data Quality?
A
DQ - Inward focus, about the condition of the data; conformance to requirements. measured in metrics
IQ- Outward focus. value and meeting consumer expectations. measured in outcomes.
13
Q
What is the engineering dilemma?
A
Are you building the thing right? or Are you
building the right thing?
14
Q
Information Quality is contextual, not absolute
A
IQ Principle #6
15
Q
When does data quality change?
A
DQ changes when either data or the data requirements change
16
Q
When do the requirements for data quality change?
A
Changes in the use of information products can change the data requirements
17
Q
Data have many intrinsic characteristics or dimensions that can be used to express data requirements
A
IQ Principle #7
18
Q
What are the four categories of dimensions of quality according to the Wang-Strong framework?
A
- Intrinsic
- Contextual
- Representational
- Accessibility
19
Q
The ________ dimensions of quality according to the Wang-Strong framework are:
- Accuracy
- Believability
- Objectivity
- Reputation
A
Intrinsic
20
Q
The ____________ dimensions of quality according to the Wang-Strong framework are:
- Value-added
- Relevancy
- Timeliness
- Completeness
- Amount of data
A
CONTEXTUAL
21
Q
The _________ dimensions of quality according to the Wang-Strong framework?
- Interpretability
- Ease of Understanding
- Representational consistency
- Conciseness of representation
- Manipulability
A
REPRESENTATIONAL
22
Q
What are the accessibility dimensions of quality according to the Wang-Strong framework?
A
- Access
- Security
23
Q
What are the six domains of IQ Knowledge & Practice?
A
– IQ value & business impact – IQ strategy & governance – IQ environment & culture – IQ measurement & improvement – Sustaining IQ – Information architecture quality
24
Q
Which of the six domains of IQ Knowledge & Practice have to do with data quality?
A
– Information quality measurement & improvement
– Sustaining information quality
– Information architecture quality
25
What are the two ways to relate information to value?
Business Problems and Data Problems
26
What is return on investment (ROI)?
ROI is the net gain calculated as a percentage
| of the amount invested.
27
How do you calculate ROI?
ROI = 100*(Net Gain) / (Cost of investment)
28
What is the basic assumption of net present value (NPV)?
Money should constantly be growing in value – annual discount rate X%
– Un-invested money loses value
– Future dollars are worth less today
29
In order to align IQ with business goals in a business case a business case must make a clear connection between _____________ and ______________.
* Information quality improvement
| * Achieving business goals and objectives
30
What are the stages of the Information Lifecycle?
POSMAD
• Plan for information
• Obtain the information
• Store and Share the information
• Maintain and manage information
• Apply the information to accomplish your goals
• Dispose of the information it is no longer needed
31
Is the information lifecycle a linear process?
No
32
What are the activities within the PLAN stage of the information lifecycle?
```
– Identify objectives
– plan information architecture,
– develop standards and definitions.
– Understand limitations and restrictions on the use
of the data (regulatory, privacy)
```
33
What are the activities within the OBTAIN stage of the information lifecycle?
– Create or compile records
– Purchase/rent data
– Load external files
– Extraction and capture of unstructured information
34
What are the activities within the STORE stage of the information lifecycle?
– Store data electronically in databases or file
– Store hardcopy as a paper or image
– Share physical access to the information
– Share logical access to the information through data catalogs and metadata specifications
35
What are the activities within the MAINTAIN stage of the information lifecycle?
– Update, change, manipulate, parse, standardize,
validate, or verify data.
– Enhance or augment data cleanse, scrub, or transform data.
– De-duplicate, link, or match records.
– Merge or consolidate records
36
What are the activities within the APPLY stage of the information lifecycle?
– Retrieve and use information
| – Create information products for users
37
What are the activities within the DISPOSE stage of the information lifecycle?
– Archive information for later access
| – Delete or destroy data or records for legal reasons
38
What phases of the information lifecycle carry costs?
All of them
39
What phases of the information lifecycle generate value?
Apply
40
What phases of the lifecycle are affected by information quality?
All of them
41
What are the categories of data by structure?
* Structured Data
* Unstructured Data
* Semi-Structured Data
42
What are the categories of data by function?
* Operational Data
* User Generated Data
* Machine Generated Data
43
What is master data?
Master data describe people, places, and things critical to the organization “Nouns of the data vocabulary”
44
What is transactional data?
Describe events that take place as an organization conducts its business “Verbs of the data vocabulary”
45
What is reference data?
Sets of valid codes or classification schemes that
| are referenced by
46
What is metadata?
* Metadata literally means “data about data.”
| * Metadata label, describe, or characterize other data and make it easier to retrieve, interpret, or use information
47
What are the types of metadata?
- Business metadata
- Technical metadata
- Process metadata
48
What things are included in data requirements?
– Data models and schemas
– Business rules
– Data quality requirements
– Data standards
49
Data Quality is conformance to ________.
Data Requirements
50
What is a data standard?
Data standard is a collection of related data
| requirements to ensure everyone in an organization is acting in a consistent way.
51
What activities are required to uphold data standards?
– Name, define, and format data
– Establish valid values
– Specify business rules
52
What are data models?
• A way of visually representing the structure of
an organization’s data.
• It is also a specification of how data are to be
represented in a data store
53
What are the three types of data models?
– Conceptual
– Logical
– Physical
54
Who is Walter Shewhart?
* The “Father” of statistical process control
| * Pioneered the application of statistics to quality
55
What are Walter Shewhart's principles?
– Data have no meaning apart from their context
| – Data contain both signal and noise. To obtain information you must separate signal from noise
56
Who invented the Plan-Do-Check-Act cycle?
Walter Shewart
57
Who is W. Edwards Demming?
American Engineer, Statistician, and Professor
• 7 Deadly Sins of Management
58
What was W. Edwards Demming's key message?
90% of problems are caused by management, 10% workers
59
1. Lack of Constancy of Purpose
2. Emphasis on short-term profits
3. Performance Appraisals that promote fear
4. Mobility of Management
5. Management by the use of visible numbers.
6. Excessive medical costs
7. Excessive cost of liability
Demming's "7 Deadly Sins"
60
Who is Joseph Juran?
Came up with the quality trilogy
61
- Planning
- Improvement
- Control
Juran's Quality Trilogy
62
What questions do you ask in quality planning?
```
Who are your customers?
What are their needs and wants?
What are their quality characteristics?
How will you make the product/service?
How will you deliver the product/service?
```
63
* the governance process that makes sure things don’t get worse.
* Inspection of actual performance against planned performance
* Resolution of differences (root cause investigation)
* Makes use of Statistical measures of performance to ensure control
Quality Control
64
What is the focus of quality improvement?
- fitness for use
| - error reduction
65
Who is ARMAND FEIGENBAUM?
* Total Quality Control - Everyone working for full customer satisfaction
* “Hidden" plant - extra work performed in correcting mistakes hidden within any factory
* Accountability For Quality - quality must be visble at the highest levels of management
* Quality Costs – quantifying the cost of quality
66
Who is Philip Crosby?
• DIRFT system – “doing it right the first time”
– Quality is conformance to requirements
– The system of quality is prevention
– The performance standard is zero defects
– The measure of quality is the price nonconformance
67
Who is KAORU ISHIKAWA?
* Fishbone Cause and Effect Diagram - Ishikawa diagram
* Implementation of Quality Circles
* Emphasized the Internal customer
68
Who is SHIGEO SHINGO?
Major contributor to the Toyota Production System now used by companies worldwide
Also pioneered
– “Just in time” production
– “Lean” production
69
Who is GENICHI TAGUCHI?
* Taguchi loss function, measures financial loss to society resulting from poor quality
* “Off-line quality control”- products and processes insensitive to parameters outside the design engineer's control
* Innovations in the statistical design of experiments
70
Who are the Japanese contributors to quality?
KAORU ISHIKAWA
SHIGEO SHINGO
GENICHI TAGUCHI
71
Who are the contemporary academics and practitioners?
```
Larry English
Dr. Richard Wang
Dr. Thomas Redman
Danette McGilvray
Laura Sebasitan-Coleman
David Loshin
```
72
What is Redman's "Rule of 10"?
It costs 10x as much to complete a unit of work when input data are defective as it does when the input data are perfect.
73
What are information chains and why are they important?
• An information chain is effectively a chain of
processes through which information flows to
achieve an objective in the organization.
• Only by understanding how information flows can
you understand how the quality of the information
– Affects the Organization
– Is affected by the Organization
74
What is McGilvray's 10 steps method?
1. Define business need and approach
2. Analyse information environment
3. Assess data quality
4. Assess business impact
5. Identify root causes
6. Develop improvement plans
7. Prevent future data errors
8. Correct current data errors
9. Implement controls
10. Communicate actions and results
75
What are the four steps in the solution process for the real options approach proposed by Amram and Kulatilaka?
1. Frame the application
2. Implement the option evaluation model
3. Review the results.
4. Redesign
76
In calculating “Value = Benefits - Cost” what did the authors cite as the most difficult benefit
to quantify?
competitive advantage translated to improving the balance sheet as the most difficult benefit to quantify, compared with cost-avoidance metrics
77
Who were the two data quality practitioners that documented the negative impact of poor
data quality on companies?
Larry English
| Tom Redman
78
To what does data quality apply?
Operational Data
79
In what situation can the same data have different information quality?
when the same data is used in different information products for different purposes
80
In what situation does data have "fixed data quality"?
The same data with the same set of data requirements
81
What was Danette's contribution to IQ?
10 Steps to Data Quality
82
How is Information Quality measured?
Value Units
83
What did Shewhart create?
Plan - Do -Check - Act
84
What is the objective of Quality Improvement?
To achieve a new level of performance superior to previous levels
