Reference data can be used as an effective tool for companies looking to build good data quality models, one expert has advised.
Writing on his Data Governance blog, Steve Sarsfield highlights the uses for reference data within modern organizations.
He points out its usefulness for storing address data, supply chain data, procurement, finance and accounting data among other uses.
Furthermore, Mr Sarsfield noted that it was becoming easier for businesses to get hold of the data, with an increasing amount obtainable on the internet.
"But this availability of reference data is really great news. Together with the open source data integration tools, we're starting to see what I like to call 'open source reference data' becoming available," he noted.
"It all makes the price of improving data quality much lower and our future much brighter."
A recent article by Government Computer News claimed that the accuracy of a company's data quality was the single most important factor in increasing transparency within a business.
Posted by Paul Newton