That's pretty much how it works. Make the corrections about half of what the math suggests though, and plan to do a few iterations. The data is pretty noisy so if you try to fix it in one shot you'll just end up putting noise into your tables.
When you start turning up the boost, it's good to do pulls at wastegate boost and high boost so that you can look at data from both. If they don't have similar errors at similar MAFv, that's when you need to use the Load Compensation table.
Also, multiplying the "Knock Correction Advance Max" table by 50% will give you some extra safety margin. I tend to do that when I'm making changes that might have surprising side-effects, and if you're new at tuning, just about everything might have surprising side-effects.