Introduction to three pivotal disciplines

So that we’re all on the same page moving forward, we will start by explaining what we mean by Data Value and Data Economics, Data Literacy, and Data Culture.

Data Economics

Data Economics, an emerging field of data knowledge, understands data as an economic asset with varying values. Some data holds immense potential, whereas other data might have limited utility. The economic value of data isn’t static; it evolves depending on how it’s leveraged within your organization. It will be most potent when applied across the company’s various departments, when raw data is turned into actionable insights that drive financial decisions and are reflected in the company’s Profit and Loss (P&L) statements.

Data Literacy

The concept of Data Literacy is vital for navigating the complex landscape of Data Economics. Just like traditional literacy, mastering data literacy requires time, practice, and commitment...