Hold tight - this will probably freak the accounting world out. I was listening to an analyst call about big data earlier today. I asked the question whether data would soon have a value on the asset sheet. There was a resounding agreement that it would - if a suitable metric could be devised.
To me it all depends on whether an organization can put controls around the following (non-exhaustive) criteria :
Accurate data - bad data is like a virus to the business and could lead you down the wrong path.
An open, flexible, intergate-on-demand infrastructure - not much use if you can't get you data out of the silos
The ability to refine for particular uses - imagine using the wrong grade oil in your vehicle
Prescriptive, descriptive, cognitive analytics - you need deep insight, the ability to predict the future with degrees of certainty and discover new opportunities
Governance to protect, and manage all your data - otherwise the risk exposure could ruin your business.
OK. It's a lot to think about. But imagine being able to value your company based on its data. "Without this data we would not have been able to forecast 'x' which brought in 'y' revenue" or "If we had this data we would be able to make 'x" more sales generating 'y" revenue. With the right protection and quality control around the information you could reduce potential costs of errors and data breaches (affecting the balance sheet)
So leveraging all this data - this 'big data" - into trusted insights could help an organization put a value on its data. It is possible - if you have the right kind of infrastructure and analytics.
I would like to hear from you if you are trying to put a value on the data in your organization and how you would estimate its worth.
I could right a thesis on this but I would rather you read this analyst paper, the highlights of which will be screened in a webcast on June 24 2014 at 11:00 Eastern,
Register here ( http://bit.ly/QlXOlG ) for "Transforming big data into insights with IBM System z: An independent consultant’s perspective" and receive Mike Ferguson's new white paper on this topic
Keep thinking - think BIG.
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