The security of data is the degree to which data collected by a business are reliable, accurate and constant. The data of a business must be reliable for it to be useful in analysis and making decisions.

Businesses must adhere to strict quality control procedures in order to ensure the security of data. These could include data validation checks as well as standard formats and comprehensive cleansing of data. Expertise and experience of teams that collect data are crucial. A team with experience is more likely to follow best practices and provide reliable data. A good technology and secure data storage capabilities can help avoid errors that could compromise data reliability.

Incorrect or inconsistent data can lead to serious issues, both internally and externally. For example, if a company’s database shows that the customer has $1000 in their account but they only have $100 due to an error in the data, this can lead to financial penalties and loss of confidence. Additionally, inaccurate sensor information from manufacturing equipment can result in recalls and product defects.

Validity and reliability could be a part of the same concept, but they are not the same concepts. Validity is about whether the data you have is accurate. For instance an inventory of customers email addresses that are not unique or have duplicate entries indicates that the list isn’t valid and can’t be relied upon for sending out marketing emails.

Reliability is about the consistency and accuracy of the data over time — for example, if you have two lists of email addresses for customers from different sources that are the same, but slightly different, you shouldn’t apply them to a specific marketing campaign as they won’t be effective or will reach the wrong people. For this reason, it is vital to keep detailed records of the methods employed to collect and modify data, in order to ensure transparency and integrity of data.

Board Meetings