4. Accuracy

As we have said, inaccurate data will lead to inaccurate information.

Here are a few examples of information which would be of little use if it was inaccurate:

Weather forecasts

Most people check the weather forecast each day so that they can get an idea of what to wear, whether to take an overcoat and umbrella.

If the forecast was inaccurate they could find themselves getting very wet and cold.

They might check the forecast to see whether tomorrow would be a good day to take the family on a trip to the seaside or for a picnic.

If the forecast was inaccurate then they might be very disappointed to have cancelled the trip only to find that the sun shone all day.

Supermarket prices

When you go to a shop you probably know how much money you have to spend. You check the prices of things you are buying on the shelves and will have an idea of how much it will cost by the time you have reached the till.

If the person entering the price details into the system has accidentally overpriced a couple of items, then this could mean that you don't have enough money to pay for your shopping and have to put something back.

Businesses

Businesses have to keep accurate records of all of the money coming in and all of the money being paid out.

If the accountants make a mistake and don't accurately enter all of the money received then it could look like the company has not made as much profit that year.

This incorrect information can have a major effect on things like the company share price - if the profit isn't as good as expected then share prices often drop. It could affect decisions about things such as whether to expand or build new premises. It could also mean that the company looks at ways of saving money such as making people redundant.