PROCESS AND CONTENT STANDARDIZATION FOR DATA COLLECTION 1

PROCESS AND CONTENT STANDARDIZATION FOR DATA COLLECTION 1 By Eric Dery and Olga Laveda International Monetary Fund

BUSINESS CONTEXT AND OBJECTIVES Business Context: � 2008 financial crisis: Identified important data gaps � Areas of data collection and processing were identified to be addressed by IMF � Increase volume of data to be processed � Increase demand within budgetary resources � Minimize country reporting burden Objectives: � Streamline and standardize data collection � Respond to business context 2

AFDB OPENDATA PLATFORM The Open Data Platform is part of the Af. DB’s “Africa Information Highway” initiative aimed at improving data collection, management, and dissemination of data in Africa Open Data Platform for all countries in Africa IMF partnered with Af. DB to leverage their Open Data Platform Uses SDMX standards Standardize content and process 3

WHAT IS OPEN DATA PLATFORM Country Open Data is a ready-to-use solution � provides a public website on Internet � end-to-end experience for data users data access data analysis content building sharing/dissemination Country’s datasets can be published and found by people in a single place � Provides a very convenient search engine � Allows for creation of highly visual, interactive dashboards 4

OVERALL FRAMEWORK OF THE PLATFORM [Country] Open Data Platform Central Bank Af. DB Central Bank ODP National Statistical Office Natl. Stat. Office ODP Min. Of Finance ODP Ministry Of Finance IMF others Dashboards and Visualizations * ODP stands for Open. Data Platform. WB National Summary Data Page (SDMX) 5

BENEFITS OF OPEN DATA PLATFORM Reduced reporting burden on countries Implementation of standardized codes Timely and more accessible data � Users get up-to-date data � In the formats they want Data meets “Open Data” criteria and international standards, and easily re-usable � Data can be retrieved using the SDMX web service by users and machines (like mobile applications and websites) 6

WHAT IS THE ROLE OF THEIAG TASK FORCE ON INTERNATIONAL DATA SHARING? Develop and carry out two pilot projects for testing practical arrangements implementing the general principles for two distinct cases: � First test case will put focus on the detailed set of sector accounts for G-20 economies (recommendation 15 of the G 20 Data Gaps Initiative) � Second test case would put emphasis on a much wider representation of countries and international organisations, covering the main aggregates (GDP and expenditure components) and population from the System of National Accounts 7

IAG TASK FORCE ON INTERNATIONAL DATA SHARING Principles and Globally harmonized reporting templates for statistics : International statistical standards (System of National Accounts (SNA 2008), the Balance of Payments Manual and International Investment Position Manual 6 th Edition (BPM 6) and other related) provide a solid methodological basis for compiling economic and financial statistics More aligned statistical methodological standards lead to indicators that are globally comparable, timely and sound. 8

GLOBAL DATA SHARING OF STATISTICS: Promotion of reporting requirements Use of globally harmonized templates : � domains, statistics or variables selected � frequency and timeliness � SDMX standard formats and codifications (DSDs) Defining an efficient exchange between the International and Supranational Organisations (I&SOs) of statistics Allocating responsibilities among I&SOs on data validation and dissemination of the various sets of statistics 9

IAG TASK FORCE ON INTERNATIONAL DATA SHARING Single point for data quality management � Identical statistics for similar statistical concepts (i. e. no vintage or methodological differences) and of the highest quality at any time � National authorities ultimately responsible for the quality of their data Scope of the task force � Two pilot tests for the implementation of the general principles on data sharing between international and supranational organisations � The task force may decide after a kick-off to work in two sub-groups on those two pilots 10

IAG TASK FORCE ON INTERNATIONAL DATA SHARING Technical Modalities of Data Exchange � Transmission of data messages with regards to the agreed template for GDP main aggregates and population statistics � List of countries for which it is established that quarterly main aggregates are regularly produced and disseminated � SDMX-ML messages using the now nearly finalized DSD for national accounts � Automated data exchange through web service and data API will be implemented with a registry service and sandbox 11

QUESTIONS ? 12