Organizations are looking around their data landscape, and they’re finding collections of data and insights about data that they believe are rather unique in their industry. In so doing, they are realizing that the data and insights they hold may be of value to their peers as well as organizations in other industries. So they’re starting to create business units to market and sell or license those data assets.
Very often it is organizations in a different industry sector to your own that could use your data and insights to be disruptive or innovative in their industry sector.
Data and analytics leaders need to help their organizations assess the economic value of data – that’s part of the discipline we call “Infonomics.” It’s about managing and accounting for information with the same rigor and formality as traditional business assets — financial, physical, human or intangible.