Mandate Data Valuation Before It’s Mandated

Data can be valuable if used properly or dangerous when mishandled.
The organization needs to understand the value of their data before they can establish proper data management practice.
Data is not considered a capital asset unless there is a financial transaction (e.g. buying or selling data assets).
Data valuation is not easy, and it costs money to collect, store, and maintain data.

Our Advice

Critical Insight

Data always outlives people, processes, and technology. They all come and go, while data remains.
Oil is a limited resource, data is not. Contrary to oil, data is likely to grow over time.
Data is likely to outlast all other current popular financial instruments including currency, assets, or commodities.
Data is used internally and externally and can easily be replicated or combined.
Data is beyond currency, assets, or commodities and needs to be a category of its own.

Impact and Result

Every organization must calculate the value of their data. This will enable organizations to become truly data-driven.
Too much time has been spent arguing different methods of valuation. An organization must settle on valuation that is acceptable to all its stakeholders.
Align data governance and data management to data valuation. Often organizations struggle to justify data initiatives due to lack of visibility in data valuation.
Establish appropriate roles and responsibilities and ensure alignment to a common set of goals as a foundation to get the most accurate future data valuation for your organization.
Assess organization data assets and implementation roadmap that considers the necessary competencies and capabilities and their dependencies in moving towards the higher maturity of data assets.

Mandate Data Valuation Before It’s Mandated Research & Tools

Start here – read the Executive Brief

Read our concise Executive Brief to understand the value associated with the organization's data. Review Info-Tech’s methodology for assessing data value and justifying your data initiatives with a value proposition.

Mandate Data Valuation Before It’s Mandated – Executive Brief

1. Demystify data valuation

Understand the benefits of data valuation.

2. Data value chain

Learn about the data value chain framework and preview the step-by-step guide to start collecting data sources.

3. Data value assessment

Mature your data valuation by putting in the valuation dimensions and metrics. Establish documented results that can be leveraged to demonstrate value in your data assets.

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