Webinar: Data as An Asset With Lauren Cascio

Have you discovered the full value of your data? This webinar will get you started. Founder of Gulp Data Lauren Cascio was recently featured in a webinar with Revelate where she discussed the topic of data as an asset. Cascio believes that data is always an asset, regardless of whether or not a company is utilizing it for internal or external monetization. She compares data to tangible assets like machinery, fleets, and computers and intangible assets like patents, trademarks, talent, and trade secrets. However, unlike these assets, data is often not recognized on a company’s balance sheet. Cascio believes that this is due to an antiquated way of valuing intangible assets developed before the concept of data as an asset existed.

A Complex Concept, But Not a New One

Valuing data as an asset can be complex, but Cascio believes it is not a new concept. Consulting firms and subject matter experts have been valuing enterprises and considering all intangible assets, including data, for decades. However, Cascio believes there should be a quicker and easier way to value data assets, especially given the enormous liquid market for data. She works on this process day-to-day with Gulf Data. When determining what makes data a good asset, Cascio quotes Doug Laney, author of Infonomics, who describes data as a “non-rivalrous, non-depleting, and inexhaustible asset.”

Data’s Unique Characteristics

Cascio also has a formula for determining the characteristics of high-quality versus low-quality data, but she emphasizes that what makes data a unique asset is its non-rivalrous nature. Unlike other assets that can only be sold once or used by one party at a time, data can be sold to multiple parties simultaneously and take on many different forms. Cascio also discusses the “data journey,” which involves moving data from silos and making business decisions about utilizing it. She notes that the process can be complex and requires careful consideration of factors such as security and compliance.

Simplifying the Process of Monetizing Data

In conclusion, data is a valuable asset often not recognized on a company’s balance sheet. Despite being a non-traditional asset, consulting firms and subject matter experts have been valuing data for decades. Cascio believes that data’s unique characteristics, including its non-rivalrous nature, make it a precious asset. While loving data can be complex, Cascio and Gulp Data work to simplify the process and help companies monetize their data assets. The data journey requires careful consideration of various factors, but the potential benefits of utilizing data as an asset can be significant. Watch the webinar here.