The Challenge of Accessing Quality Data in the Post-Crisis World . Abdullateef Bello (Ph.D) Islamic Development Bank 7 December 2010. Crisis and data. The 2008 financial and economic crisis exposed the weaknesses in the tools and systems of Statisticians
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The Challenge of Accessing Quality Data in the Post-Crisis World
Abdullateef Bello (Ph.D)
Islamic Development Bank
7 December 2010
The 2008 financial and economic crisis exposed the weaknesses in the tools and systems of Statisticians
All this depends on data availability and quality!
“Data quality played a significant role in the mispricing and business intelligence errors that caused the crisis” (Casualty Actuarial Society E-forum, Spring 2010)
“Without strong data, policymakers cannot manage effectively and business leaders may be left in the dark, unable to spot emerging trends and danger signals” (IMF’s F&D, Vol. 46, No. 1, March 2009)
“…accurately measuring progress towards the MDGs is sometimes difficult when precise data are not available or come with a long time lag” (UN S-G report on MDGs, p. 3, 12/2/2010)
Statistics Canada’s Quality Assurance Framework 2002 defines 6 dimensions of quality data as follows:
E.g. in 1998 during Asian Financial Crisis: The ADB reported that Indonesia CBS suffered 21% budget cut, and Malaysia’s Dept. of Statistics 15% (Source, ADB, 1998)
“For an international organization, the quality of statistics disseminated depends on two dimensions: the quality of national (or external) statistics it receives and the quality of its internal processes for collection, processing, analysis, and dissemination of data and metadata”
(Source: Quality Framework for OECD Statistics)