In Episode 22, of Season 4, of Driven by Data: The Podcast, Kyle Winterbottom is joined by Simon Ferriter, CEO at Anmut , where they discuss why organisations are valuing their data like other balance sheet assets, which includes;
- The framework for measuring the value and fitness for purpose of your most important data
- The role of capital allocation in data assets
- How most organisations don’t understand which data assets are important to success
- If data teams lack the business/management acumen to communicate data effectively
- Why data isn’t treated or managed like other resources and assets in an organisation
- Not all data has equal importance to decision-making
- Why the 80-20 rule is likely in play when it comes to data
- Why data valuation is completely context-dependent
- The three financial methods for valuing data
- The importance of social impacts of data (environmental and community)
- The benefit of putting a financial figure on the value of data assets
- Why semantics around language are causing confusion
- Why the financial figure isn’t the end result, it’s what that allows you to do from there
- Why data valuation drives improved "value"
- Knowing which data asset is important for which business opportunities
- Why valuing your data captures the attention of the board and makes it their issue too
- The under-investment in data management capability and the overinvestment in technology
- Why the problem statements are fairly universal across industries and organisations
- Why complexity means intangible assets are overlooked and often undervalued
- Why accounting standards are no longer fit for purpose in the digital age of today
- If data should be on the balance sheet
- Investing in the upstream business process to prevent the need for new tools
- The benefits that organisations are seeing from valuing their data assets
- Why Anmut launched a product to help organisations to self-serve on this process
