Live Tweetporting from #GartnerMDM: Infonomics

After only being able to catch bits of content via Timo Elliott’s tweestream at the Barcelona conference, I was finally able to catch the full live content of by Doug Laney‘s excellent and thought-provoking presentation on Infonomics: How to Value and Manage Your Information Assets.

Spoiler alert: I am starting this Tweetport with my last tweet:

  • @doug_laney #Infonomics: one of the best presentations I have seen at a conference, right on par with some guest keynotes. #GartnerMDM

The content was pretty dense, and I was able to capture only bits of it. Need to do more reading, this is a really great subject to explore, right there with the topic of information as a strategic asset on which I have previously written (here we go again, the “asset” concept!  It does mean so many things…)

  • Exploring #Infonomics: the notion that information is a corporate asset, by @doug_laney. #GartnerMDM
  • On 9/11, many orgs lost information assets. Called insurance companies who were ok to pay for... hardware value. @doug_laney at #GartnerMDM
  • Insurance companies now explicitly exclude electronic data from liability policies. Happened not even a month after 9/11. #GartnerMDM
  • Accounting standards also exclude information from assets that can be valued on balance sheet. @doug_laney at #GartnerMDM
  • Courts worldwide are split on issue of value of information as an asset. @doug_laney at #GartnerMDM
  • Information viewed as a resource, an asset, a risk, a... pain in the asset! Depends who you ask in org. @doug_laney at #GartnerMDM
  • Only the customer list can be included in the "Goodwill" section of a balance sheet, and only for M&A. @doug_laney at #GartnerMDM
  • Even data syndication companies cannot include value of data on their balance sheet... @doug_laney at #GartnerMDM
  • What constitutes an asset? Owned by org. Can generate "probable future economic benefit". Exchangeable for cash. @doug_laney at #GartnerMDM
  • Some say information is not an asset because it's not on balance sheet... Chicken egg problem? #GartnerMDM
  • Intangible assets were 17% of company market value in 1975. Now it's 80%. @doug_laney at #GartnerMDM
  • Realized vs probable vs potential information value = information value gap. @doug_laney at #GartnerMDM
  • Tobin's Q is ratio between market value of company and it's tangible assets value. For average business it's 0.96. #GartnerMDM
  • Infocentric companies (data well governed) have Tobin's Q of 2.4. Infoproduct companies (selling data): 4.7. #GartnerMDM
  • 575BC: ppl started to entrust banks to manage money (no brainer today) Should they continue to manage information on their own? #GartnerMDM
  • Accounting standards created in the 30s. No computers then. @doug_laney says this is the reason why information not asset. #GartnerMDM
  • #Infonomics is the definition of a new asset class. @doug_laney at #GartnerMDM
  • Use information as a currency: barter with other companies. How to put value on it? @doug_laney at #GartnerMDM
  • Cost approach: what it would cost to replace it. #GartnerMDM
  • Market approach: what the marketplace will bear. #GartnerMDM
  • Income approach: what revenue stream it will generate. #GartnerMDM
  • RT ‏@kalsing: "ERP was never designed to give a single view of the data. It was designed to give a single view of the financial structure." #GartnerMDM
  • Intrisic value of information = accuracy * completeness * accessibility * scarcity #GartnerMDM
  • RT ‏@prussom: The book "Price of Everything" explains how to calculate price of anything, except (drum roll please) data. @Doug_Laney at #GartnerMDM #TDWI
  • Business value of information = accuracy * completeness * relevance / latency. #GartnerMDM
  • @doug_laney shares many accounting formula to determine the different valuation methods for information. #GartnerMDM
  • Human capital is not accounted for either - 14th Amendment (slavery). @doug_laney at #GartnerMDM
  • RT ‏@prussom: @Doug_Laney #GartnerMDM: time to treat data like other assets, with all economic & accounting best practices. Result: #Infonomics. / #TDWI
  • Why we are not doing it? Lack of awareness. Justification. Governance. Leadership & management. Systems & practices. #GartnerMDM
  • @doug_laney #Infonomics: one of the best presentations I have seen at a conference, right on par with some guest keynotes. #GartnerMDM

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Yves (@ydemontcheuil)