Data Accuracy
Data accuracy is the degree to which records correctly reflect real-world family offices, roles, and attributes at a given point in time.
Definition
Definition Data accuracy refers to how correctly a dataset represents real entities, individuals, and characteristics. In the context of family office data, this includes whether a family office exists as described, whether associated individuals hold the stated roles, and whether attributes such as geography, mandate, and structure are correctly assigned. Context Family office data is more prone to inaccuracy than institutional data due to limited disclosure, small teams, role overlap, and intentional privacy. Titles may not reflect authority, offices may operate under multiple entities, and contacts can change without public notice. As a result, accuracy cannot be assumed based on source alone and requires continuous validation. Why It Matters Inaccurate data leads to mis-targeted outreach, broken relationship paths, and reputational risk. For allocators, advisors, and fund managers, accuracy is the baseline requirement that determines whether a database can be trusted for decision-making and engagement. Key Takeaways Accuracy measures correctness, not record volume Family office data decays quickly without verification Inaccurate records directly reduce outreach effectiveness Accuracy is the foundation of database credibility