In today's digital era, data is far more than the byproduct of work processes – it's an untapped source of potential value. Companies increasingly recognise data as a strategic asset. However, for many, quantifying and realising the monetary value of existing data assets seemingly remains a challenge.
Having a pragmatic approach to assess the value of data has become highly relevant for organisations that seek to unlock the monetary potential of the data. Key value drivers – completeness, maturity, and accessibility – significantly influence data's worth.
This white paper provides an understanding of the importance and process of data valuation and an appropriate business and data strategy for organisations. It provides pragmatic approaches to valuing data in order to understand and sustainably realise the value creation potential of data. This white paper paper offers a roadmap to unlock your data's true worth. It explores data valuation's significance and process, emphasising the role of a well-crafted business and data strategy. The paper provides practical methods for assessing data value, crucial as organisations strive to capitalise on data-driven capabilities. By the end, you'll gain insights to make informed decisions and harness data's potential effectively.