WIREDGOV

Data that enable a company to improve customer relations, streamline production or develop new products are providing future economic benefit and should be regarded as assets.

It is increasingly important that firms are able to account for their data. Firstly, regulatory and compliance initiatives are putting greater emphasis on the quality of data and resulting decision-making in the aftermath of the financial crisis. Secondly, for financial reasons, data that play an increasingly important role in value creation must be recognised if they are to be accorded appropriate priority by company decision-makers.

At economy level, valuing data would provide investors with better information on relative returns, allowing capital to be allocated to activities with the highest expected returns. More efficient allocation of capital within an economy would quicken the pace of economic progress.

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