How To Measure, Manage, and Monetize Information As An Asset

It has become a cliche to say data is an asset. If an organization is not making an attempt to measure, manage, and monetize, information can’t be an asset. Doug Laney is one of the foremost thought leaders who has been espousing Infonomics and the need for organizations to monetize their data. Doug was also the leader who came up with 3 Vs to describe Big Data and the one who came up with 4 types of analytics namely Descriptive, Diagnostic, Predictive, and Prescriptive. Doug’s assertion is that leading organizations focus on reaping the benefits by implementing the last 3 types of analytics. To enable any type of analytics though, leaders in organizations have to ensure that data literacy and data culture are pervasive.