At Truflation, maintaining data consistency is at the core of our operations. Through a combination of robust processes and quality control protocols, we ensure that our data remains accurate, reliable, and reflective of real-world conditions.
1. Comprehensive Data Sources
- Diverse Inputs: Data is sourced from 30+ providers and aggregators, representing over 15 million price points across categories.
- Dynamic Updates: New data providers are added regularly to ensure diverse and representative inputs.
2. Rigorous Quality Control Protocols
Truflation employs a systematic QC process to validate every data point as it moves through the pipeline:
- Historical Data Comparison: New data is cross-checked against historical entries to flag inconsistencies.
- Data Presence Checks: Verifies that at least 13 consecutive months of data are available to ensure year-over-year comparisons.
- Current Data Review: Ensures the most recent data is neither missing nor identical to previously logged entries.
- Data Variation Analysis: Flags discrepancies if data deviates by more than 5% from previous entries.
3. Transparent Methodologies
- Indexing and Normalization: Raw data is standardized into price indexes using transparent algorithms.
- Time-Stamped Updates: Data points are logged with timestamps to ensure traceability and accountability.
4. Controlled Data Processing
- Red-Flag Resolution: Any anomalies identified during QC are thoroughly reviewed before being incorporated into calculations.
- Interim Data Handling: If issues persist, interim data is used temporarily until flagged data is resolved.
5. Consistent Methodology Application
- Unified Framework: Data from all sources is processed consistently according to Truflation's methodology, ensuring standardization across all outputs.
Truflation’s commitment to data consistency is reinforced by our rigorous processes and transparent methodologies. This ensures that every index and metric delivered is accurate, reliable, and reflective of real-world conditions.For more details on our methodology and QC processes, refer to our Methodology Report.