Data Sampling (DRM Workbook)

Overview

The Data Sampling Workbook is used in the Pricefx Data Readiness Methodology to facilitate the process of selecting representative samples of data for analysis and testing purposes. It helps ensure that the selected samples accurately represent the larger dataset and provide meaningful insights during the data readiness assessment.

Using Data Sampling Workbook

Here's how you can use the Data Sampling Workbook:

• Define Sample Selection Criteria:

  • Determine the criteria based on which the samples will be selected, such as specific data attributes, timeframes, or relevant business units.

  • Document these criteria in the workbook, specifying the criteria name, description, and any specific requirements.

• Identify Sample Size:

  • Estimate the appropriate sample size based on statistical considerations and the goals of the data readiness assessment.

  • Specify the sample size requirements in the workbook, indicating the desired number of records or percentage of the dataset.

• Sampling Methodology:

  • Select an appropriate sampling methodology based on the nature of the data and assessment objectives. Common methods include random sampling, stratified sampling, or systematic sampling.

  • Describe the chosen sampling methodology in the workbook, outlining the rationale and steps involved.

• Execute Data Sampling:

  • Apply the defined sample selection criteria and sampling methodology to the dataset.

  • Record the actual samples selected in the workbook, capturing the relevant details such as record identifiers, data attributes, and any additional information necessary for identification.

• Sample Validation and Representation:

  • Assess the representativeness of the selected samples by comparing them to the larger dataset.

  • Evaluate whether the samples adequately cover the various data attributes, distributions, and patterns present in the dataset.

  • Document the validation results in the workbook, noting any potential biases or limitations in the sample representation.

• Sample Documentation:

  • Maintain documentation of the selected samples, including the sample size, selection criteria, and sampling methodology used.

  • Include any necessary information to track the samples back to the source data, such as file names, query details, or data source identifiers.

The Data Sampling Workbook serves as a reference and documentation tool throughout the data readiness assessment process. It helps ensure that the selected samples are appropriate, and representative, and effectively support the analysis, testing, and validation activities carried out during the methodology.