Understanding Data Quality: How IQ Scores Work

Why Data Quality Matters

Bad data leads to bad decisions. A 2023 Gartner study found that poor data quality costs organizations an average of $12.9 million per year. Yet most data platforms give you no quality indicators at all.

DataSetIQ solves this with IQ Scores—a 0-100 rating for every dataset.

The IQ Score Components

Each IQ Score is calculated from four weighted dimensions:

1. Freshness (30% weight)

How recently was the dataset updated relative to its expected frequency?

Example: A monthly CPI dataset updated yesterday scores 30. The same dataset last updated 3 months ago scores 10.

2. Completeness (25% weight)

How many gaps or missing values exist in the time series?

Example: GDP data with no missing observations since 1960 scores 25. A survey with 10% missing quarters scores 15.

3. Reliability (25% weight)

Is the source authoritative? How often is the data revised?

Example: BLS employment data scores 25. A private estimate scores 10.

4. Usability (20% weight)

How clean and accessible is the data format?

Example: FRED data with clean CSV export scores 20. A PDF-only source scores 5.

Score Interpretation

Real Examples

FRED CPI-U (Consumer Price Index)

IQ Score: 97

• Freshness: 30 (monthly, on schedule)
• Completeness: 25 (no gaps since 1947)
• Reliability: 25 (BLS official source)
• Usability: 17 (clean but complex structure)

Experimental Survey Data

IQ Score: 62

• Freshness: 15 (irregular updates)
• Completeness: 12 (20% missing values)
• Reliability: 15 (academic source)
• Usability: 20 (clean format)

How Scores Update

IQ Scores are recalculated:

• Daily for freshness checks
• Weekly for completeness audits
• Monthly for full recalculation

When you see a dataset, you're seeing the current quality, not a stale rating.

Using IQ Scores in Research

Best Practices

• Filter by 80+ for production models

• Compare similar datasets before choosing

• Check individual components if overall score is borderline

• Note score trends - declining scores signal problems

Red Flags

• Score dropped 10+ points recently
• Freshness score below 10
• Completeness under 70% on a mature series

Questions?

Our methodology is transparent. If you disagree with a score or spot an issue, contact us with the dataset slug and we'll review.

Explore high-quality datasets →