Data as an Enterprise Asset

From the wiki an Asset is: "Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic value is considered an asset"

Data is the most valuable Enterprise Asset's in existence. The recent release of documents on the Wikileaks site is a prime example of this. What will be the final cost associated with the release of these documents? How many man-hours will be devoted to changing procedures, implementing new security protocols, trying to recover loss of face by many government agencies?

Your address book

What would happen if you were to lose your phone?

You would just replace it right?

What about your address book?

How many people keep their contacts in multiple locations for "safekeeping"?

You want to make sure that you keep your contacts regardless of what happens to your phone, right. Data Management professionals feel the same way about the data that they safeguard.

The CEO view

It is 11:43 p.m. on a Friday night. The alcohol from the dinner meeting with investors won’t wear off for a few more hours. You should be fine for the 7:12 a.m. tee time with the next group of potential clients. When the phone rings you just curse and pick it up.

“What!” you yell into the phone.

“Hey boss “, you hear the head of your IT department.

“Listen; there is no easy way to say this. In the storm that we had earlier tonight, we took a handful of lightning strikes and had a tornado touch down on the building itself. The lightning strikes then caused a fire that wasn’t caught until it was too late. The building is pretty much destroyed.

We have already updated DNS to our DR site. Some of the DBA's and server admins are on the way there. Our main network guy is unavailable since he is out of town. We are supposed to have our backup tapes there in a few hours. The server guys will get our servers back up, the DBA's will restore the databases and validate where we are with the data."

What do you do?

If you trust the DR plan and your DBA's, then you can go back to sleep.

Would you sleep well?

How valuable is your data now that you don't know whether you have it or not?

Valuating your data

One way to determine the value of your data is to identify the direct and indirect business benefits derived from use of the data. Another way is to calculate the cost of its loss; what would be the impact of not having the current quality level of your data or the amount of data you have?

What if you only lost a years' worth of data?

What change to revenue would occur?

What would be the cost to recover it? Man-hours, potentially consultant hours as you hire outside expertise if necessary would factor in to the costs.

Data Management Professionals protect your Assets

Data Management Professionals are the ones that protect your data assets. By protecting and safeguarding your data assets, they are protecting and safeguarding the enterprise itself.
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