Create a worksheet (must in Excel) that performs the calculations, documents the assumptions, and enables the side-by-side comparison of valuations for the two information assets you selected.
Module 6 Valuing Information
Instruction:
Select any two information assets identified in the previous exercise. Attempt to apply the IVI, BVI, CVI, and MVI valuation models for them in a worksheet. Document any estimates or assumptions about the terms in the model. For completeness and best practice, be sure to document the formulas used and/or use name ranges in the worksheet.
Examples (determine your own though for the information you select):
Completeness: 70% of customers email addresses are complete or known
Accuracy/Validity: 90% of these are accurate
Scarcity: any customer’s email is known to 50% of this organization’s competitors
Lifespan: the average business email address changes each 5 years
Relevance: a business email address has high (4 out of 5) relevancy for a customer service function. (For the BVI model, simply select any single business process or function [p], not a range of them.)
Timeliness: updated email addresses are known on average 2 months after an individual changes them
The annual cost of the overall process that captures new email addresses is $500,000 per year, and only 0.1% of this cost is attributable to capturing the email address. (For the CVI model ignore the part of the formula in “{ }”)
Companies would pay us $10 for exclusive ability to email our customers, but would only pay $2 for non-exclusive rights.
We could potentially allow up to 20 key partners to reach our customers via email through us. (Note, you cannot sell email addresses due to privacy laws, but you can reach your customers via email on the behalf of others).
My notes: so this individual assignment based on my last week’s group assignment. I will also post group assignment’s instruction and group paper here for you as a reference.
Module 5 Information Inventory Project
Instruction:
Select a real company or organization, but one that none of you are currently affiliated with. Be sure you have found a contact you can interview. Interview (or meet online) with this individual to determine an initial inventory of the organization’s key information assets, for example:
critical operational
information potentially available from business partners
related public information especially about their market
information that could be harvested about their competitors
etc.
Identify which information this individual, or the company, believes is utilized fully or underutilized and could potentially generate greater benefits for the organization, its partners or customers, or society. (e.g. a 5-point scale). Also determine basic indicators of each information asset’s volume (size), velocity (frequency of new/updated records), and variety (the number of places it comes from).
Remember, it’s usually overkill to inventory information assets at the field level (e.g. customer first name), unless they’re highly monetizable on their own. Instead, consider logical groupings of similar data like “customer name and address”.
Create a worksheet of this inventory with the following fields:
Type of information
Description of its business meaning
Degree of utilization (for business benefits)
Volume
Velocity
Variety
Document no fewer than 10 and no more than 50 key information assets. (Each group elects one and only one representative to make one submission)
Only one team member from each group is expected to submit and this would automatically reflect in other’s account.
