A total data quality management for credit risk: new insights and challenges

摘要

Recent studies indicated that companies are increasingly experiencing data quality (DQ) related problems resulting from their increased data collection efforts. Addressing these concerns requires a clear definition of DQ but typically, DQ is only broadly defined as 'fitness for use'. While capturing its essence, a more precise interpretation of DQ is required during measurement. While there is a growing consensus on the multi-dimensional nature of DQ, no exact DQ definition has been put forward due to its context dependency. On the contrary, it is often stated that its constituting dimensions should be identified and defined in relation to the task at hand. Answering this call, we identify the DQ dimensions important to the credit risk assessment environment. In addition, we explore key DQ challenges and report on the causes of DQ problems in financial institutions. Statistical tests indicated nine most important DQ dimensions.