What Is The Value Of Your Data?

Data production and consumption is increasing at an exponential rate across the world. Organisations have to become savvy and know what the value of their data is?

Do you know how much your house is worth? Or that Tesla you just bought; how much money is that saving you by using electricity? Perhaps, you also know how much your data is worth. No? Let me help you quantify it!

Data is being captured at every step of our digital journeys and it’s also being monetised at a large scale. But not every piece of data has an associated value. In fact, very little actual data valuation is carried out.

Why is that?

It’s because there isn’t one simple framework for doing this. It’s neither like a property that appreciates in value over time and nor like a car that depreciates in value.

So, how do you value this behemoth?

In this week’s blog, I want to share two ways in which you can value your organisations’ data:

#1 Asset’ising the data in line with business areas

#2 Use-case & risk-based valuation