Member-only story

Strategies for a Data Valuation Assessment

A variety of thought experiments to quantify the value of data and data-related work

Nicole Janeway Bills
5 min readJan 15, 2025

Quantifying the value of data can help an organization appropriately prioritize data assets, communicate return on investment to stakeholders, and garner support for data-related work. However, Data Valuation can be very challenging because the process of applying traditional valuation approaches to information assets is not straightforward.

Photo by Micheile Henderson on Unsplash

In fact, there is no standard method for calculating the value of data. International Accounting Standard 38 states that any electronic data cannot be capitalized on an auditable financial statement.

However, undertaking a Data Valuation initiative can provide an organization with a powerful lens to better understand the costs and benefits associated with information assets.

Contents

Mike Fleckenstein, According to researchers Mike Fleckenstein, Ali Obaidi, and Nektaria Tryfona writing for Harvard Data Science Review, Data Valuation approaches can be grouped into three categories. Market-based methods are focused on the…

--

--

Nicole Janeway Bills
Nicole Janeway Bills

Written by Nicole Janeway Bills

Founder of datastrategypros.com where we help busy professionals ace the Certified Data Management Professional (CDMP) exam and other data-related exams.

No responses yet