Information located in different parts of organizations is presumed to be of immense value, but there is currently no generally accepted approach to objectively measure as a financial asset. Knowing the actual value of information assets within an organization can lead to a better understanding of the more valuable and less valuable information. This in turn can lead to better decision making in terms of IT investment and strategy.
This proposal is the winning submission of an Innocentive Crowdsourcing Ideation Challenge (ID# 9933411) related to establishing a business valuation of data. It offers an approach which is both practical to apply and consistent with accepted accounting principles.
