Typically, poor data quality characteristics have a detrimental effect on business performance, innovation and competitiveness.

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Models are meant to approximate reality using available inputs and accessible formulaes; they are not a substitute for reality itself.

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All models are wrong; some models are useful.
George Box

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Understanding which information assets are used by the most processes, are the most critical to business outcomes, have the biggest quality challenges, or present the greatest compliance, security, or privacy risks makes a start to prioritizing information asset management (IAM) activities and initiatives.

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It’s easier to manage what you measure. It’s best to measure what you intend to manage.

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You can’t manage what you don’t measure.
Peter Ducker

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The ability to use, replicate and share data means it cannot be considered in the same way as a physical asset with an “owner”. Rather, it is important to think of rights, roles, responsibilities and limitations for those who access data in the various processes from collection, use, sharing and storage.

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But in a formal accounting and economic sense, a liability is an asset owed to another entity. In this case, information fails the definition of a liability. Although information is increasingly liquid, it rarely if ever is something owed to someone else.

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All information has a probable future economic benefit.

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First, forget what accountants say, and listen to what the market is saying.

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Businesses that do a better job of compiling, managing, and making available the information assets are more valued as business partners – and more valued by Wall Street.

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As discussed throughout this book, becoming an infosavy organisation means you are beginning to manage and deploy information with the same kind of discipline as your traditional assets.

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Additionally, a couple key concepts from library science provide further information lifecycle guidance:
Collect information form the most respected sources inf the original format whenever possible, and
Organize information in ways that make it easy to locate and near other related information assets.

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