PROBLEM: Data Unit Value Quantification
Data is created and consumed by almost all digital activity, from eCommerce to CAD/CAM and engineering. The inherent problem is that businesses sometimes struggle to understand the true value of data. Some data is extremely valuable yet it may be embedded within large sets of relatively worthless data. Other data may be almost worthless on its' own yet can offer extremely valuable business opportunities when combined with other sets.
In today's world, Data is an Intangible Asset, making it awkward to manage and use for business operations. Many organizations struggle to financially quantify the value of their data. Furthermore, data value change significantly over time as data ages, tangible assets are decommissioned or business processes change. These patterns and the lack of a Generally Accepted Accounting Process (GAAP) methodology to consistently apply standard measures of value often leads to an inability to accurately determine and compare valuations..
THE NEED: Consistent Data Evaluation Metrics
Merger and Acquisition (M&A) firms and investors often ask themselves "what is the true value" of a specific legal entity. Sometimes a large portion of the overall net worth of a company can be based on the perceived value of its' data assets. This valuable data may exist in many forms, yet its' value is iften highly contextual.
For example, imagine a mobile application that is very popular amongst golfers. If the mobile app had data on 1,000,000 people including when, where and how often they golfed, how many golf pro shops they visited, it would be extremely valuable to any company targeting that demographic. By contrast, a skateboard company may not see the data as valuable as it missed their target. Third Parties, like a convenience store, might find some value in being able to push advertisements for products like Gatorade ™ at the users when they are heading out to a golf course.
THE SOLUTION: ORBintel.io
ORBintel is the answer! As a software platform, it allows the data asset owner to determine a more precise market evaluation based upon real world metrics and consistent dimensions. Items like the age, provenance and completeness of datasets can be declared and updated as things change, creating powerful ways to both monetize and assess data assets.
ORBintel is not rocket science, yet we can help rocket scientists understand the true value of data
they have. Setting up a new account only takes minutes and puts your company on a better path to understanding its'
fair market value.