Data is one of the most strategic and valuable assets an organisation has. But it’s not often seen that way. In most organisations data is seen as a cost, and because technology is more tangible, it may well be forgotten.
That’s why we developed our approach to data valuation. It’s not an exercise in accounting, it’s a way of transforming data from a cost into an asset, one that’s value is understood by everyone in the business.
We calculate the value, in monetary terms, of your different data assets. This starts by identifying all the activities that drive value for your stakeholders. Then we work out and measure how data dependent each activity is using carefully trained technology. These numbers then give you the language to think about data as a strategic asset.
Sounds complicated? It is, but we do that bit. You get a monetary value on your portfolio of data assets, with a map of how your organisation creates value.
For the first time, many of our clients are able to compare the return on investment in data versus other investments, such as buildings, plant or other equipment. At one of our clients, the valuation work we completed changed the Board conversation about data, once they knew that for every £2 of physical assets, they have £1 of data assets.