Building on the popularity of cloud storage, combined with an age-old banking business model, I have long anticipated the emergence of “information services organisations”. Such companies will provide not just storage and access to information assets, but also a full range of banking-type services including: lending (licensing), interests (enrichment and cleansing), investment (new forms of monetization), credit (using information as a form of payment or collateral), portfolio analysis (measuring and reporting on information health), and advice.

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Our finance people used to chuckle about the idea of information as an asset, the reality is that for most employees, our business is data. 70 percent of our employees don’t touch aircraft, but everyone touches data.
Matt Cordner, Textron

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To derive value from information assets, organizations must focus first on data quality and data governance. This is the primary reason to hire a Chief Data Officer.

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However, most limiting is the continued inertia toward thinking about and using data merely for generating ever more reports and spreadsheets, rather than evolving to consider information a strategic asset and raw material for transforming businesses, products, and services.

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Big Data projects are inherently experimental, and most experiments fail.

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