Data quality assessment of economic indicators in Thailand

Abstract

This independent study implements data quality assessment framework to rapid economic indicators. Due to the outbreak of the COVID-19 pandemic abruptly halted economic activities worldwide. Assessing its economic impact using traditional economic indicators has proven insufficient for the urgent analytical and decision-making needs. The advent of Big Data, characterized by its diverse sources and frequent reporting for real-time monitoring. However, a critical challenge is the absence of standardized data quality assessment frameworks. Neglecting data quality assessment while employing Big Data for decision-making may lead to erroneous decisions. This study evaluates rapid economic indicators, Apple Mobility Index, Global Normalcy Index, and Google search trends. An existing data quality assessment framework and data quality dimensions—accuracy, timeliness, and validity—are assessed by Talend Open Studio for Data Quality. Findings reveal the Global Normalcy Index as a promising rapid economic indicator for timeliness and validity. However, accuracy testing yielded inconclusive results due to its fluctuations. This highlights the need for a nuanced approach with considering data characteristics. Future endeavors should diversify data quality dimensions and refine the assessment framework to enhance data quality assessment efficiency.