Why Data is a Business Asset and How to Measure Its Value

Data Chats

“I encourage clients to do more automation, diagnostic, predictive or prescriptive work with their data. That’s where the real value happens. Not in looking backward at lagging indicators.” – Douglas Laney

In this episode of Data Chats, Chris Richardson interviews Douglas Laney, author of Data Juice: 101 Stories of How Organizations Are Squeezing Value from Available Data Assets. Douglas is also an innovation fellow at West Monroe.

They discuss:

  • How to generate economic value from data
  • Why you should treat data like a business asset
  • How to assess the value of data owned by your company
  • What is inverted data monetization
  • Thinking through the ethical considerations, legal aspects and unintended consequences of selling and using data before taking action
  • Why we need more data managers and not just data analysts
  • How to measure the financial value and business value of data

Take Your Data Skills to the Next Level with Business-Driven Data Analysis
This course teaches a proven, repeatable approach that you can leverage across data projects and toolsets to deliver timely data analysis with actionable insights. Learn More

Author

  • Pragmatic Editorial Team

    The Pragmatic Editorial Team comprises a diverse team of writers, researchers, and subject matter experts. We are trained to share Pragmatic Institute’s insights and useful information to guide product, data, and design professionals on their career development journeys. Pragmatic Institute is the global leader in Product, Data, and Design training and certification programs for working professionals. Since 1993, we’ve issued over 250,000 product management and product marketing certifications to professionals at companies around the globe. For questions or inquiries, please contact [email protected].

Author:

Other Resources in this Series

Most Recent

Podcast

Bridging the Gap Between Data Science and Business

“There’s a gap between the technical side and the business side. You need to bridge that gap with a common understanding of what’s predicted, how well, and what’s done about it.” – Eric Siegel In...
Podcast

Mastering the Art of Data Visualization with Nadieh Bremer

“Data visualization is about adding a visual channel to make the data more memorable and comprehensible. We remember things in images and stories; we are not number creatures.” – Nadieh Bremer In this episode of...
Category: Data Science

OTHER PodcastS

Podcast

Bridging the Gap Between Data Science and Business

“There’s a gap between the technical side and the business side. You need to bridge that gap with a common understanding of what’s predicted, how well, and what’s done about it.” – Eric Siegel In...
Podcast

Mastering the Art of Data Visualization with Nadieh Bremer

“Data visualization is about adding a visual channel to make the data more memorable and comprehensible. We remember things in images and stories; we are not number creatures.” – Nadieh Bremer In this episode of...
Category: Data Science

Sign up to stay up to date on the latest industry best practices.

Sign up to received invites to upcoming webinars, updates on our recent podcast episodes and the latest on industry best practices.

Subscribe

Subscribe

Pragmatic Institute Resources