{"id":10,"date":"2024-02-09T07:52:00","date_gmt":"2024-02-09T07:52:00","guid":{"rendered":""},"modified":"2024-10-15T07:34:33","modified_gmt":"2024-10-15T07:34:33","slug":"data-quality-intuitively-comes-along-with-timetec-parking-analytics","status":"publish","type":"post","link":"https:\/\/www.timeteccloud.com\/blog\/data-quality-intuitively-comes-along-with-timetec-parking-analytics\/","title":{"rendered":"Data Quality Intuitively comes along with TimeTec Parking Analytics"},"content":{"rendered":"<div style=\"text-align: left;\">\n<p>The quality of data is a prerequisite for a meaningful data analytics deployment. Characteristics of Data Quality are accuracy, completeness, consistency, uniqueness, and timeliness. Without Data Quality, data analytics process might paint a false picture and risking the companies to make wrong decision.<\/p>\n<\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">The few elements contribute to Data Quality:<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\"><b><span style=\"color: #0b5394;\">Accuracy<\/span><\/b>: a company has to cross-check data with the source. If there is no data lineage, the accuracy is always questionable.\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\"><b><span style=\"color: #0b5394;\">Completeness<\/span><\/b>: It doesn\u2019t mean all data source, but it must adhere to the business requirements, especially those data is used for KPI measurement.\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\"><b><span style=\"color: #0b5394;\">Consistency<\/span><\/b>: If data is flowed to multiple applications, it must have the same properties and not conflicting each other. For example, if the date format is DDMMYYYY,\u00a0 make sure it should be the same across all applications.\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\"><b><span style=\"color: #0b5394;\">Validity<\/span><\/b>: It should follow the business rules and parameters. For example, if the amount rounds up after 2 decimals, then it should.\u00a0\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\"><b><span style=\"color: #0b5394;\">Uniqueness<\/span><\/b>: There must be no duplication of data.\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\"><b><span style=\"color: #0b5394;\">Timelines<\/span><\/b>: Data must be available when promised.\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">There are quite some methods suggested by data experts to improve Data Quality, among them: Data Profiling, Data Standardization, Data Geocoding, Data Matching and Linking, and Data Quality Monitoring.\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div>\n<div style=\"clear: both; text-align: center;\"><a style=\"clear: right; float: right; margin-bottom: 1em; margin-left: 1em;\" href=\"https:\/\/www.timeteccloud.com\/blog\/wp-content\/uploads\/2024\/02\/image_2024_02_09T05_57_04_499Z.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.timeteccloud.com\/blog\/wp-content\/uploads\/2024\/02\/image_2024_02_09T05_57_04_499Z-300x300.png\" width=\"320\" height=\"320\" border=\"0\" data-original-height=\"320\" data-original-width=\"320\" \/><\/a><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<p>To ensure Data Quality is kept, organizations have to maintain a Data Life Cycle, which involves the processes:<\/p>\n<\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">1. Find data through root cause analysis<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">2. Investigate data<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">3. Find potential causes<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">4. Perform root cause analysis<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">5. Apply correction<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">6. Monitor by continuous improvement monitoring<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">7. Sustain by applying fixes on sources or closest to source<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">Hence, to achieve Data Driven Organization is easier said than done. Since data itself generates further data, especially when raw data go into applications generate and regenerate much meaningful data, solution providers who have the capability to provide data analytics services should be the better choices for companies that take data seriously and have the plan for data transformation.\u00a0<\/span><\/div>\n<div><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">The complication of parking operations arises from multiple parking types, such as casual parking, season parking, on-street parking, valet parking, event parking, etc., and multiple payment methods like cash and cashless transactions, which include credit cards, debit cards, Touch \u2018n Go, eWallets, FPX, offline, and online payments, across various parking sites. This complexity worsen the data quality when need to consolidate multiple parking and payment methods provided by different solution providers.\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div>\n<div style=\"clear: both; text-align: center;\"><a style=\"margin-left: 1em; margin-right: 1em;\" href=\"https:\/\/www.timeteccloud.com\/blog\/wp-content\/uploads\/2024\/02\/image_2024_02_09T05_53_26_698Z.png\"><img decoding=\"async\" src=\"https:\/\/www.timeteccloud.com\/blog\/wp-content\/uploads\/2024\/02\/image_2024_02_09T05_53_26_698Z-300x150.png\" border=\"0\" data-original-height=\"500\" data-original-width=\"1000\" \/><\/a><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<p><a href=\"https:\/\/www.timeteccloud.com\/parking\/\" target=\"_blank\" rel=\"noopener\">TimeTec Parking<\/a> is the one-stop parking solution provider capable of fulfilling the most sophisticated parking requirements and facilitating further activities to form a smart building ecosystem. Additionally, TimeTec Parking Analytics is available as an optional module for TimeTec Parking, allowing parking operators to continue the data journey, saving costs and time without the hassle and the need for extensive data lifecycle measures mentioned earlier to maintain data quality. The data quality flows intuitively in a lineage form along with the applications, providing readily prepared templates for easy visualization and benchmark reference.<\/p>\n<\/div>\n<div><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\"><b><span style=\"color: #0b5394;\">TimeTec Parking Analytics offers instantaneous data crunching and data visualization, providing a 360\u00b0 view on<\/span><\/b><span style=\"color: #0b5394;\"><b>:<\/b><\/span><\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">Collection breakdown by duration<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">Single view and overview<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">Earnings per vehicle<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">Earnings per bay<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">Occupancy rate<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">Season Pass turnover rate<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">Income per site analytics<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">User behavior analysis<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">Different parking methods and next activities<\/span><\/div>\n<div><span style=\"font-size: 12pt; white-space-collapse: preserve;\">\u2022 <\/span><span style=\"font-family: Roboto; font-size: medium;\">And many more<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">For example, for bay utilization, an operator can plan their bays especially the mix ratio of casual and season parking bays properly if they know the details clearly to optimize the bay utilization and maximize the profits.\u00a0 \u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"color: #0b5394; font-family: Roboto; font-size: medium;\"><b>The Benefits:<\/b><\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">1. Increase parking occupancy based on user behavior<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">2. Maximize parking revenue streams by right-sizing product offerings<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">3. Identify dynamic pricing opportunities that enhance your parking strategy<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">4. Make period-over-period comparisons<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">5. Identify successes and pinpoint areas for improvement<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">\u00a0<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: medium;\">Interested in learning more about TimeTec Parking Analytics and <a href=\"https:\/\/www.timeteccloud.com\/parking\/\" target=\"_blank\" rel=\"noopener\">TimeTec Parking<\/a>? Request your free demo of the TimeTec Parking solution now.<\/span><\/div>\n<div><span style=\"font-family: Roboto; font-size: large; text-align: center;\">03-8070 9933\u00a0\u00a0\u00a0\u00a0 |\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><a style=\"font-family: Roboto; font-size: large; text-align: center;\" href=\"mailto:info@timeteccloud.com\">Email<\/a><span style=\"font-family: Roboto; font-size: large; text-align: center;\">\u00a0\u00a0\u00a0\u00a0 |\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><a style=\"font-family: Roboto; font-size: large; text-align: center;\" href=\"http:\/\/www.timeteccloud.com\/\" target=\"_blank\" rel=\"noopener\">www.timeteccloud.com<\/a><span style=\"font-family: Roboto; font-size: large; text-align: center;\">\u00a0\u00a0\u00a0\u00a0 |\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><a style=\"font-family: Roboto; font-size: large; text-align: center;\" href=\"https:\/\/www.timeteccloud.com\/request-demo\" target=\"_blank\" rel=\"noopener\">Interest Form<\/a><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The quality of data is a prerequisite for a meaningful data analytics deployment. Characteristics of Data Quality are accuracy, completeness, consistency, uniqueness, and timeliness. Without [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":158,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[466,467],"tags":[269,233,267],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Data Quality Intuitively comes along with TimeTec Parking Analytics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timeteccloud.com\/blog\/data-quality-intuitively-comes-along-with-timetec-parking-analytics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Data Quality Intuitively comes along with TimeTec Parking Analytics\" \/>\n<meta property=\"og:description\" content=\"The quality of data is a prerequisite for a meaningful data analytics deployment. 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