Valuing Data As an Asset

Abstract

We frequently hear the slogan “manage data as an asset.” The implication is that data has worth, and as such, should be treated as a valuable asset. But what is required to manage data as an asset? Organizations understand that data is vitally important to their enterprise, to their ability to manage their finances, execute customer service, and improve their operations. Yet what it means to manage data as an asset is too rarely discussed and not well documented, and most organizations don’t account for their data assets as they do for their other assets. In fact, managing data as an asset has many similarities to managing other assets. Of course, there are some differences because data is intangible and consumed differently than physical assets. However, similarities abound.