43. What are two benefits of good data quality management in improving business decision-making? (Choose 2 answers.)
Answer: C
Good data quality management mitigates undetected errors and ensures completeness in business decision-making.
Effective data quality management is crucial as it mitigates undetected errors from the data-entry process and ensures there are no missing data points, both of which significantly enhance the reliability of business decisions.
A) It begins the statistical process faster.
This option is incorrect because the speed of initiating statistical processes is not a direct benefit of data quality management. While good data management might streamline processes, it does not guarantee a faster start, which is unrelated to the accuracy and reliability of the data itself.
B) It ensures there are no missing data points.
This option is correct, as ensuring there are no missing data points is a fundamental aspect of good data quality management. Completeness enhances the validity of analyses and leads to more informed decision-making by providing a full picture of the data landscape.
C) It mitigates undetected errors from the data-entry process.
This option is correct. Good data quality management directly addresses the potential for undetected errors during data entry, which can lead to inaccurate conclusions and flawed decision-making. By minimizing these errors, businesses can rely on more accurate data.
D) It guarantees that a sample will be statistically significant.
This option is incorrect because data quality management does not guarantee statistical significance. Statistical significance is influenced by sample size, variability, and the appropriateness of the statistical tests used, rather than solely on the quality of the data.
Conclusion
In summary, good data quality management is essential for mitigating undetected errors and ensuring completeness in data, which are both critical for accurate business decision-making. While other options may touch on related concepts, they do not directly contribute to the benefits provided by effective data quality management, leaving options B and C as the definitive correct answers.