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REVISION POLICY

Statistics Directorate    
Definition:
A policy or set of policies, aimed at ensuring the transparency of disseminated data whereby preliminary data are compiled that are later revised when more and better source data become available.

Context:
In SDMX, "Revision Policy and Practice" describes the data revision policy, the policy and practice for identifying the revision status of available data, as well as the availability of revision studies and analyses.

Providing users with documentation regarding the source data used and the way they are adjusted gives compilers the possibility to incorporate new and more accurate information into estimates, thus improving their accuracy without introducing breaks in the time series.

Data may also be subject to ad hoc revisions as a result of the introduction of new classifications, compilation frameworks and methodologies which result in the compilation of historical data that replaces previously released data. Whether or not such changes constitute an actual "revision" or the compilation of a "new" series is a matter of judgment on the part of the statistical agency.

Under the requirements of the Special Data Dissemination Standard (SDDS), an organisation's revision policy for specific statistics is disseminated on the Internet on the IMF`s Dissemination Standards Bulletin Board (DSBB).

Source Publication:
International Monetary Fund (IMF)," Quarterly National Accounts Manual", Washington D.C., 2001.

Cross References:
Compilation practices
Data source, types of
Integrity
Internal access
Ministerial commentary
Statistical Data and Metadata Exchange (SDMX)
Time series breaks

Hyperlink:
http://www.imf.org/external/pubs/ft/qna/2000/textbook

Statistical Theme: Methodological information (metadata)

Glossary Output Segments:
SDMX

Created on Monday, February 2, 2004

Last updated on Wednesday, March 8, 2006