Understanding the value of your data assets has been saved
Understanding the value of your data assets
In order to capture and harvest the value of data over time, organisations 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
Data could be your most valuable asset ...
Increasingly, data assets are the engine driving the total value and growth of modern organisations. As a result, building a framework and methods to discover and realise the potential of your data is critical to increase the value you provide to stakeholders, and to optimise the future success of your organisations!
if you understand it and how it can increase in value
Many companies, however, fail to understand both the value of their existing data assets and the underlying levers that can increase data value. This can mean, in turn, that they miss out on the competitive advantages that their data assets can generate.
… and how it enhances the value of your organisation
Companies want to understand how to value data to help them make strategic decisions and assess alternatives in many areas such capital allocation/investments, M&A, JV and alliances, other commercial use cases, customer acquisition and retention, maximise customer revenue and margin, improve supply chain and production efficiencies, talent management, risk/reward considerations, differentiate unique advantages in the marketplace, etc.