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Reliable, variable, and valid—these are the signs of good data, and these three concepts will help you intelligently examine the quality of any data put in front of you.

For example, if someone claims his data is valid you might ask him, politely, whether he can prove that this data has been shown to predict something else, measured by something else, in the real world. If he can show this—à la Amazon and the clicks from one page driving the clicks on another—then you’re probably looking at valid data.