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BiPM Practice Tool Listing Page
Data Quality Gap Impact Assessment Tool
This tool enables you to assess and quantify the business impact of a data quality gap, given its risk. While the Data Quality Risk Assessment checklist is more of a back-end review for the analysts, the output of this tool goes to the business owners and CIO, for final decision. A Data Quality gap may be felt by a single function, but its actual impact could be cross-functional.
This BiPM Practice Tool is linked to:  Data Quality,
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    • Abstract

    Header Information:

    • Tool-Code: DQ01WT37
    • Product Code- DQPACK02
    • Number of Parameters: 67
    • Number of Main work-Sheets: 1 (excluding version tracking and home page)
    • Help File (excluding FAQs and Tips): 4 pages
    • Relevant FAQs- 5
    • Relevant TIPs- 3

    The Parameter Groups

    • Direct Financial Impact Assessment
    • Regulatory and Compliance Impact
    • Sales Revenue Impact
    • Order Fulfillment
    • Customer Servicing and Support Impact
    • Product Management Impact
    • Analysis Impact

    Overall Usage Guide:

    Purpose of the tool:

    This tool is used to do the 'business' impact assessment of a data quality Gap. This checklist is not seen by business stakeholders, but its output is presented in business language for their review. This checklist enables you to take a holistic view of the cross-functional impact of a data quality gap.

    When to use the tool:

    This tool is used, as you are prioritizing the gaps and the solutions to address them. As you fill-up DQ Gaps Management tool**, you can use this tool to help you do a well-thought out quantification. You can also place this sheet as an annexure to the Gaps Management tool.

    How to use this tool:

    You can use a single sheet in this assessment tool, for a single DQ Gap or DQ gap group. You do not have to use it for all the DQ Gaps, but for the significant ones. The business as usual DQ Gaps are fixed by the change controls. The gaps for which this tool needs to be used are those, which are either significant or need a reasonable amount of funding or have aged.

    Who will use this tool?

    This tool will be typically used by the business analyst working under the business owner, who owns the data-group getting impacted by the Data Quality Issue. For example, if there is a data quality issue with the customer data, the business owner of the customer data-group will own the impact assessment.

    Linked Practice Tools:

    Related FAQs:

    • Can I do without the Risk assessment and DQ Gap assessment and apply high level judgment?
    • Will DQ Gap impact assessment used only for DQ gap management or can also be used in the DQ program initiation phase
    • How do we ensure that we are not double counting, when doing the impact assessment?
    • Does a lack of DQ Assurance method mean a high risk?
    • How does business balance between the Data Quality Risk avoidance vs. Revenue initiative?

    Related Tips:

    • Quantifying the business impact of a DQ Gaps Assessment
    • Quantifying the risk assessment of a DQ issue or lack of data quality assurance.
    • Holistic solution for Data Quality may not be always a best solution
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