Majority of entrepreneurs, investors, senior executives consider the enterprise data they manipulate to fulfil core activities as both reflecting and supporting the reality of their daily operations. Could be as well for them the way to monitor operations efficiency, and sometimes a source of product and service improvements.
But too rarely they consider their enterprise data as incarnating the deepest company expertise, know-how, experience and living of its focused markets.
In the data economy paradigm, enterprise data is much more than the way to make it run successfully, it represents company DNA, an energy made of unsuspected new business potential, but more than anything else, an unsuspected value.
Thanks to its data, enterprise can augment its quality perception, create new product or service ranges, even create new revenue streams, but can ultimately raise its financial value.
To reach this, data has to successively become a commodity, then a patrimony and finally an asset.
The data commodity concept engages the fact that the data production is totally controlled with a Total Cost of Ownership measured and monitored. With data patrimony data commodity produced and enriched contributes to useful information provision to the business. Data asset is relying upon a reliable, secured and (GDPR) compliant data patrimony, and thanks to the entire business potential revealed can be evaluated as an non tangible asset within company balance sheet.
The roadmap to data patrimony is unique per enterprise and a solid experience of such strategic program is needed to guide the company on the right tracks where Operations, Business, IT and Compliance have to be aligned in every decisional arbitrage and overall change management.
DATA IS YOURS!!!