Wherever there is asset value, there are expert appraisers to research and deliver sophisticated valuation estimates: residential real estate, commercial real estate, diamonds and gemstones, antiques, collectibles and works of art.
And now, the same is true for data.
Chrysalis has developed the industry’s first Data Appraisal methodology, taking into account more than 100 individual attributes across five main components of value, to give data owners an objective way to gauge the true value and potential revenue generating capability of their data assets.
Much like a real estate appraisal, considerations in a Data Appraisal include:
- The specifics of the data asset – number of records, data sourcing, depth of coverage, recency of the data, category coverage, relative uniqueness and the validity of the data
- The current state of the marketplace(s) relevant for a given data asset – liquidity, sophisticated, growth trends and competitive datasets
- Comparables – similar data assets in use, the revenue streams emanating from those assets, and total market availability
- Potential Buyer Groups – an assessment of the various potential buyer groups for the data asset, with a focus on exploring non-traditional buyer groups to assess every potential area of value
- Revenue generation formats – an inventory of the various methods by which revenue can be gleaned from a given data asset such as co-ops, licensing and rental, DaaS offerings, re-packaging into insights driven data products, streams, APIs and the like
Data is increasingly the most universal form of currency and it’s time that it be rigorously valued like any other valuable asset. As founding members of the Data Appraisal Institute, the leadership team at Chrysalis Partners has driven the movement toward the development of an empirical methodology to estimate the value of virtually any type of data asset.
The team has also created a Data Monetization Score, to assist companies with assessing how well they’re utilizing their data currently.
To obtain a Data Appraisal for your data assets, please