In a standard Business Intelligence environment, the archetypal journey of data can be summarised as follows: collected from sources, extracted, transformed, loaded into an Enterprise Data Warehouse. accessed and used for reporting across the organisation. But what about valuation ?
DATA AS A FINANCIAL ASSET
The value of data within an organisation is today finally becoming a critical business question. Data is starting to be considered in a more hollistic way and to be qualified as a financial asset worthy of CFO’s and CEO’s time. Infonomics, born from the fusion of information and economics, is at the forefront of this paradigm shift, leading the data governance revolution by defining a workable method of data management as an asset .
« BIG DATA AND DARK DATA ARE ON A BOAT… »
Yes, big data is a buzz word. It is also an unavoidable evolution of Business Management. More and more data is collected and potentially usable for the benefit of organisations. This data big-bang is correlated to an increase in dark data. Just like dark matter in physics, dark data is the information that lays dormant, abandonned or indeed even forgotten. In other words : unleveraged business assets .
WHICH STRATEGY FOR DATA QUALITY ASSESSMENT ?
Data quality is, of course, critical for any sort of Business Intelligence success. Poor data quality WILL affect decisions across the organisation and inevitably cost money to shareholders. This is why a strategy of data quality assessment is absolutely necessary to all organisation dealing with data .
BEYOND DATA QUALITY
Data sustainability goes beyond data quality. Sustainability, most often described as a development goal for human activities, can and must also be applied to data management. Within this context, sustainability can be defined as a perfect state-of-being, providing more, for longer, and for less cost and impact. It is data’s potential to remain accessible at the highest level of quality and to be used at the highest level of efficiency. Data sustainability encompasses data quality concerns while also adressing the growing business pain of dark data and the financial leveraging of data. Are you ready for data sustainability ?