We suggest practical approach for data acquisition decision and data rectification. If we meet an opportunity to get additional information, we should calculate the cost and benefit of the new information. The methodology starts by determining if we purchase the additional data. For this decision, we propose a reliability measure for the data quality. The proposed estimator can be used for quantifying the relative improvement in the LCA results due to the use of such additional information. Since this evaluation can be done without having access to data, it can also be used to determine whether it would be worth spending the time or money for obtaining data of a given accuracy. Inversely, this approach could also be used for determining the type of additional information that should be obtained to achieve a desired overall accuracy of LCA.