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💼 PI1.1-2 Defines Data Necessary to Support a Product or Service

Description​

When data is provided as part of a service or product or as part of a reporting obligation related to a product or service:

  1. The definition and purpose of the data is available to the users of the data.

  2. The definition of the data includes the following information:

a. The population of events or instances included in the set of data

b. The nature of each element (for example, field) of the set of data (that is, the event or instance to which the data element relates, for example, transaction price of a sale of XYZ Corporation stock for the last trade in that stock on a given day)

c. The sources of the data within the set

d. The units of measurement of data elements (for example, fields)

e. The accuracy, correctness, or precision of measurement

f. The uncertainty or confidence interval inherent in each data element and in the population of those elements

g. The time periods over which the set of data was measured or the period of time during which the events the data relates to occurred

h. In addition to the date or period of time, the factors that determined the inclusion and exclusion of items in the data elements and population

  1. The definition of the data is complete and accurate.

  2. The description of the data identifies any information that is necessary to understand each data element and the population in a manner consistent with its definition and intended purpose (metadata) that has not been included within the data.

Similar​

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