Why Data is a Business Asset and How to Measure Its Value

“I encourage clients to do more automation, diagnostic, predictive or prescriptive work with their data. That's where the real value happens. Not in looking backward at lagging indicators.” - Douglas Laney   In this episode of Data Chats, Chris Richardson interviews Douglas Laney, author of Data Juice: 101 Stories of How Organizations Are Squeezing Value from Available Data Assets. Douglas is also an innovation fellow at West Monroe.   They discuss:

• How to generate economic value from data
• Why you should treat data like a business asset
• How to assess the value of data owned by your company
• What is inverted data monetization
• Thinking through the ethical considerations, legal aspects and unintended consequences of selling and using data before taking action
• Why we need more data managers and not just data analysts
• How to measure the financial value and business value of data

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