The distinct characteristics and dynamics of data – contextual, relational and cumulative – call for new approaches to articulating its value. Businesses should value data based on cases that go beyond the transactional monetization of data and take into account the broader context, future opportunities to collaborate and innovate, and value created for its ecosystem stakeholders. Doing so will encourage companies to think about the future value data can help generate, beyond the existing data lakes they sit on, and open them up to collaboration opportunities.
Articulating Value from Data
