Data Value, Literacy, and Culture

Many, myself included, believe that data holds a specific economic value known as Data Economics. It’s essential for the data team to comprehend the factors influencing data’s value, including what affects its depreciation and understanding the entire data life cycle, as well as tracking how the data’s value changes over time when used by the company’s various business groups.

At the same time, there might be a lack of ownership and responsibility for the data assets and data products by business users. To address these challenges, the concept of Data Literacy was introduced. Like any other form of literacy, mastering it requires time and practice.

When solid Data Literacy is coupled with robust data proficiency and appropriate technological support, it naturally culminates in the establishment of a Data Culture. This refers to the cultural and operational norms within a company that highly values, relies upon, and...