Abstract

This study centers on the accuracy dimension of information quality and models the relationship between input accuracy and output accuracy in a popular class of applications. These applications consist of dichotomous decisions that are implemented through conjunction of selected criteria. In particular, the model provides the tools for quantifying the effect of errors in each decision input on the accuracy of a decision. Application of the model is illustrated through the example of a residential real estate database, where users’ preferences are captured by conjunctive decision rules. This example demonstrates how the new model can be utilized for quantifying the aggregate damage that errors in different database attributes inflict on property selection decisions. Finally, this paper reports on an initial empirical validation of the proposed model through a series of Monte Carlo simulations. Numerical estimates of the model that have been developed through this inquiry can be useful for data and information quality assessments or policy-making purposes. Mainly, they can be integrated into cost-benefit analyses that assess alternative data accuracy enhancements or process and system designs.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.