Building on the popularity of cloud storage, combined with an age-old banking business model, I have long anticipated the emergence of “information services organisations”. Such companies will provide not just storage and access to information assets, but also a full range of banking-type services including: lending (licensing), interests (enrichment and cleansing), investment (new forms of monetization), credit (using information as a form of payment or collateral), portfolio analysis (measuring and reporting on information health), and advice.

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Our finance people used to chuckle about the idea of information as an asset, the reality is that for most employees, our business is data. 70 percent of our employees don’t touch aircraft, but everyone touches data.
Matt Cordner, Textron

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To derive value from information assets, organizations must focus first on data quality and data governance. This is the primary reason to hire a Chief Data Officer.

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However, most limiting is the continued inertia toward thinking about and using data merely for generating ever more reports and spreadsheets, rather than evolving to consider information a strategic asset and raw material for transforming businesses, products, and services.

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Big Data projects are inherently experimental, and most experiments fail.

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Also, a recent study indicated that nearly half of equity analysts consider a company’s information along with its analytics capabilities in valuing the business as a whole. If those who are valuing your business are paying attention to the value of information, why isn’t your CFO?

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The CVI sets a minimum price for information based on the costs involved in producing (collecting, managing, and delivering items, while the MVI expresses how market saturation of the same information devalues it, thereby reducing its demand.

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Moreover, the type of user increasingly consuming information is not human – rather it is an application, a machine or some kind of device. Technology doesn’t feel degrees of satisfaction – a key economic determinant. Nor does technology tire as people do. And information itself doesn’t get used up, like metal or wood.

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Unfortunately, classic macro- and microeconomic principles were developed to better understand and improve the consumption and value of traditional goods and services, not information assets.

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It also means that any asset has three degrees of value:
A realized value based on the economic benefits it is currently delivering,
A probable value based on its intended uses, and
A mostly theoretical potential value if it were to be optimally applied.

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Even the term “business intelligence” predates any Gartner or IBM paper, having been first used in the 1865 book, “Cyclopedia of Commercial and Business Anecdotes” in describing the value of information on military battles.

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This method (BVI) considers the utility of an information asset to actual business usage (unlike the previous IVI method).

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For example, the intrinsic value of information (IVI) is particularly useful to guide data quality or security related efforts and investments.

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