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Wallace, WA (2002)

Assessing the quality of data used for benchmarking and decision- making

The Journal of Government Financial Management 51(3), pp. 16-22.

ISSN/ISBN: Not available at this time. DOI: Not available at this time.



Abstract: An easy-to-apply tool associated with data quality is Digital Analysis, based on Benford's Law. Benford's Law observes that nature counts geometrically and appears to both build and function accordingly.The concept of the approach is that given certain conditions, the distribution of digits in large data sets is expected to compare with that distribution defined by Benford's Law. Specifically, data sets should conform with Benford Law if they describe sizes of similar phenomena, have no built-in maximum or minimum values, are not comprised of assigned numbers and have more small items than big items. A small data set from the municipal sector is used to illustrate the derivation, analysis and potential interpretation of information as to its quality relative to Benford's Law.


Bibtex:
@article{, title={Assessing the quality of data used for benchmarking and decision-making}, author={Wallace, Wanda A}, journal={Journal of Government Financial Management}, volume={51}, number={3}, pages={16--23}, year={2002}, publisher={ASSOCIATION OF GOVERNMENT ACCOUNTANTS AGA} }


Reference Type: Journal Article

Subject Area(s): Economics