Last year I spent quite a bit of time blogging about the topic of Data Valuation. In particular, I talked about data valuation in the context of a variety of different use cases:
- Valuation during acquisition (LinkedIn's purchase of Lynda.com)
- Valuation during bankruptcy (Caesar's palace customer loyalty database)
- Valuation and data monetization (23andMe and Genzyme)
- Valuation and the sale of data assets (Tesco and dunnhumby)
- Valuation and Data Insurance (TJX and Liberty Mutual)
These use cases emerged from the joint research EMC has been doing with Dr. Jim Short of the San Diego Supercomputer Center at UC San Diego.
Next week, as a result of Dr. Short's year-long study of data valuation, he is hosting the First Workshop on Enterprise Data Value in order to create one of the first-ever industry/academic data valuation communities.
The workshop is a day-long event on January 20 and the description of the workshop is as follows:
Data is increasingly critical to business success. With rapidly growing data volumes, companies must address rapidly escalating capacity and access issues, leaving little management time to focus on exactly what data is of most value to users, and how best to classify and manage that value. Indeed in recent industry surveys, over half of companies surveyed state that while data is their most critical business asset, two-thirds of companies report that they lack standardized policies to classify and manage the value of that data. Why is this? Why the gap? Why has valuing data so far resisted the measurement afforded other corporate assets?
The goal of the CLDS Workshop Series on Enterprise Data Value is to answer these questions by combining valuation research with a newly formed practice community with the goal of exchanging the latest thinking on how companies should value their data, including extracting lessons and roadmaps from real-life experiences captured in peer case studies. Workshops will feature research and industry roundtables on concepts, tools, practices and roadmaps, and will emphasize learning about strategies and practices from peers to successfully manage enterprise data according to its value.
Workshop participants will leave with insights and solutions to key topics, including how to:
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Develop actionable ways to define and communicate the business value of data to key stakeholders
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Hear from peers on how they are crafting strategies to classify data according to its value, how they insure that value, and how they plan to instrument their systems to monitor, track and make decisions based on value
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Gain insights by studying a deep-learning use case on data insurance, including assessing data risk and the rapidly changing environment for securing data insurance, from the perspectives of the insurer, the insurance broker and the insured
Over the course of the next few weeks I will dive into workshop results and research plans going forward.
Steve
Twitter: @SteveTodd
EMC Fellow
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