The present disclosure comprises a method for determining quality level of performance data associated with an enterprise comprising one or more domain entities. The method comprises analyzing, by a data quality assessment system, performance data, received from one or more data sources of the enterprise, using one or more quality evaluation parameters associated with the performance data. Thereafter, the data quality assessment system generates one or more events based on the analysis of the performance data. The one or more events are classified by the data quality assessment system, based on predefined event processing guidelines. Further, the data quality assessment system determines a quality index value for each of the one or more domain entities based on the one or more classified events, using the predefined event processing guidelines. Thereafter, the data quality assessment system determines the quality level of the performance data associated with the enterprise.