Industry News
Valuing Data as an Asset
The world of data is changing fast. There is a lot of talk is swirling around about the need to value a company’s data as a business asset on its balance sheet. Data, in the right hands, is often as valuable as land, buildings, and equipment. Many organizations know very little about the value of their own data, but there are a few compelling reasons to start thinking about how to value a company’s data for accounting purposes. Relying on big data alone increases the chances of missing something, while the illusion we know everything. It can also introduce quantification bias — the unconscious belief of valuing the measurable over the immeasurable.