The data is in. Are you ready to derive business value from it? Ladies and gentlemen, start your infonomics engines.
Infonomics isn't entirely a nascent field -- Gartner analyst Doug Laney says he coined the term in 1990 -- but the data economy is gaining a new foothold in CIO hearts and minds. Even so, the million-dollar (or is that billion-dollar?) question remains: How do you assign a proper value to your most sought-after information?
In this issue of CIO Decisions e-zine, SearchCIO senior news writer Nicole Laskowski examines the concept of infonomics, or data as an asset, one that can propel your organization to ever-greater heights -- or, if not properly valued as a key piece of intellectual property, send your company into a tailspin.
"Infonomics can help to put a price tag on data, turning what many considered for years to be just a byproduct of business into a corporate asset," Laskowski writes. Companies that productize information, such as Google, Yahoo and TripAdvisor, are some of the well-known leaders in this field, but legacy businesses also hopping on the infonomics train include The Kroger Co. and Scripps Health.
Laney cautions against inferring a direct causal relationship between these companies and their market success, but there's little doubt that they're better prepared for a data-centric future. How can other CIOs reach the infonomics promised land? We offer six steps for measuring the value of your unique information assets.
Also in this issue, we talk to Dell CIO Andi Karaboutis about how she transformed her 5,000-person-strong IT department from an order taker into a business partner; look at balancing the need for more data with the desire for clean data; and offer some words of caution about disruptive technologies and the global human condition.
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