Abstract for:Data Asset Dynamics: The Calculus of Data Quality (Research in Progress)
Data should be considered as an asset similar to physical assets. This paper explores the concept of data as an asset, and in particular the core role that the condition of the data asset (its data quality) plays in determining the value of the data asset and how the data asset should be managed. The paper first identifies various concepts (assets, asset management, data, data assets, quality, data quality, data asset management and system dynamics) that establish a foundation for the study. The paper then delves into Data Asset Dynamics, the dynamics associated with behaviors exhibited by data assets under active management. It progressively builds a full model of the Calculus of Data Quality by starting with a simple data asset lifecycle and looking at the role played by business rules and business rule violations in determining the quality of the data asset. Next the model shows the role data quality plays in determining the value of the data asset. The model then shows how the quality discounted value of the data asset can drive investments in both corrective and preventive data maintenance activities to improve quality and value to the organization.