It is very difficult to set financial value on anything unless there is a marketplace (buy and sell market). Any attempt to put dollar value on the data without a marketplace will be pure speculation regardless of the underlined methodology. Currently, data valuation is in a speculation territory, which is not acceptable. It should rather be driven by a sound data management theory.

The Info-Tech value creation framework is influenced by nine-factor framework published in Internal Journal of Information Management. The paper highlights the importance of data value creation. This needs to be done in collaboration with the consumer and provider through information exchange as well describing and differentiating among its competitors.

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Mandate Data Valuation Before It’s Mandated

Organizations have data problems because they struggle to establish the real business value of their data. Understanding the value of your data is the first step towards solving your data problems.

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