Overview of NDMO and Data Value Realization (DVR)
NDMO (National Data Management Office) – DVR (Data Value Realization) outlines structured approaches to quantify the value of data across operational, financial, and strategic dimensions.
NDMO (National Data Management Office) – DVR (Data Value Realization)
Key Methods to Measure Data Value
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 of 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.
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 causes 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.