Data, an Organisational Asset

Abstract

Data has always been at the centre of an organisations operations and decision making. Today an organisation depends on data for its very survival. Data is used to make strategic decisions about the future direction an organisation will take and for that the data must be both current and accurate. Because data is an asset to a company it can be given a value and it can be traded. This chapter will look at data as an organisational asset tracing its importance in recording, analysing and planning as organisations grew and became more sophisticated. The impact of industrialisation on data requirements will be examined and finally with the advent of electronic data storage and processing, the emergence of data as an important component of a company’s assets. Finally there will be a discussion of big data and the current issues surrounding privacy when everything that can be recorded is recorded.