What is it about?
We describe an approach how to determine the business-critical data objects within a data-driven organization. Depending on the information needs or the business background, the criteria for defining this "value" of data may differ between the various data consumers. Therefore, we created a method that describe objects by 8 different metrics. Our approach has been validated with focus groups, an empirical survey, and expert interviews.
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Why is it important?
Data-driven organizations need to actively manage business-critical data objects. Only consistent data allows for making well-informed decisions. The ever-growing amount provides a challenge for keeping track of critical data objects. Thus, our method offers a flexible approach that can help organizations categorize and manage their data objects in a standardized and objective way.
Perspectives
Business executives want to make decisions based on monetary aspects. People working in IT-based organizations know that data consistency and data quality does not come for free. Improvement projects will cost effort and money but quantifying the monetary benefit of such initiatives is challenging. We may still not have a common approach to make a transparent cost-benefit analysis for data improvement projects, but the approach that has been created during this study sure is a step in the right direction.
Daniel Kraus
OSRAM Licht AG
Read the Original
This page is a summary of: Data Value Assessment in Semiconductor Production, April 2022, ACM (Association for Computing Machinery),
DOI: 10.1145/3537693.3537725.
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