NDMO (National Data Management Office) – DVR (Data Value Realization)
Some ways to measure the value of your Data, include:
- Replacement Cost: The replacement or recovery cost of data lost in a disaster or data breach, including the transactions, domains, catalogs, documents and metrics within an organization.
- Market Value: The value as a business asset at the time of a merger or acquisition.
- Identified Opportunities: The value of income that can be gained from opportunities identified in the data (in Business Intelligence), by using the data for transactions, or by selling the data.
- Selling Data: Some organizations package data as a product or sell insights gained from their data.
- Risk Cost: A valuation based on potential penalties, remediation costs, and litigation expenses, derived from legal or regulatory risk from:
- The absence of data that is required to be present.
- The presence of data that should not be present (e.g., unexpected data found during legal discovery; data that is required to be purged but has not been purged).
- Data that is incorrect, causing damage to customers, company finances, and reputation in addition to the above costs.
- Reduction in risk and risk cost is offset by the operational intervention costs to improve and certify data
For Your Further Reading:
- KSA PDPL – Initial Framework
- KSA PDPL – Personal Data Protection Law – Key Aspects
- Organization / Enterprise Ontology and Taxonomy
- Enterprise Architecture & Architecture Framework
- Data Security Standards
- Data Steward – Stewardship Activities
- Difference between Architecture and Architectural Diagram
- TOGAF – Components
Great Article!
Thanks.