Understanding the value of your data assets
In order to capture and harvest the value of data over time, organizations must first seek clarity on how to value data as an asset, then follow through with a comprehensive data strategy to drive value enhancement.
COVID-19 has presented unique challenges, such as distressed assets and the impact on data value as businesses pivot their growth strategies. The values of companies and assets are fundamentally changing, making understanding the value of data more important during these unprecedented times.
- Key considerations to develop a framework and methods for valuing data
- Valuing data is a multi-phase process
- Getting Started
Valuing data is a multi-phase process
Building a comprehensive framework
We use a multi-phased approach that starts with a few questions:
• What type of data assets do we currently have, and how are we using them?
• Do our data assets offer us alternative ways to grow our business?
• How can our data assets help us increase our margins?
• How can our data assets help us mitigate risks now and in the future?
Creating value from your data
We can help you understand the current value of your data, which attributes may increase the value of your data, and how your data interacts with stakeholder value—framing a process that can enhance your knowledge of how data interacts to increase value throughout the organization, and ultimately enhance the value of your organization.