Infonomics: How to Monetize, Manage, and Measure Information as an Asset for Competitive Advantage

344 Pages·2018·1.279 MB·English

by  Douglas B. Laney

Praise for
IINNFFOONNOOMMIICCSS
and DOUGLAS B. LANEY
Becoming data-driven is not just a game, it’s a serious business contest that
Laney shows you how to win. The insights, frameworks, and real-world
examples throughout this book provide a complete picture of why and how
to become an information-savvy organization.
—Judd Williams, Chief Information Offi cer, NCAA
Laney’s work redefi nes information as a true strategic asset, and shows how
we CDOs can be instrumental in unlocking new ways for companies to grow
and be relevant in the new connected modern economy.
—Rajeev Kapur, Chief Data Offi cer, Kimberly-Clark
We will one day look back at Doug’s work and say, it is the groundbreaking work
that fi rmly put data and data leadership in the middle of the business arena not
as the white elephant, but as the phoenix: a formal player at the boardroom table.
—Althea Davis, Chief Data Offi cer, ABN AMRO
Doug Laney has put together a smart, practical book that applies traditional rules
of business economics to the emerging information marketplace. Infonomics is
an excellent fi eld guide to knowing what actions can be taken to better measure,
manage, and monetize your company’s data assets now and in the future.
—Dr. Jim Short, Lead Scientist and co-founder
of the Center for Large Scale Data Systems (CLDS)
at the San Diego Supercomputer Center
Infonomics provides a broad, deep, and practical framework that informa-
tion professionals can build on; it’s full of real world illustrations and I think
it is a seminal work. If you are serious about “treating information as an
asset” then Infonomics is a must read.
—Phillip Radley, Chief Data Architect,
BT Group, plc.
Infonomics is a must read for business leaders who intend to succeed in data
monetization, a requisite organizational capability for fi rms competing in
the Digital Economy. Doug offers rich examples and detailed foundations
that leaders can draw upon as they formulate their data strategies.
—Dr. Barbara Wixom, Principal Research Scientist,
MIT Sloan Center for Information Systems Research
Doug Laney brings decades of practical experience to Infonomics, providing
a stepwise framework for C-level executives to answer the “Why” to mon-
etize data question, as well as how to operationalize the monetization of data
throughout the enterprise and position themselves to innovate, compete,
and lead in their markets. I recommend this book as a must read to enable
full potential of all the idle data in your enterprise.
—Gokula Mishra, Senior Director, Global Data & Analytics,
Supply Chain, McDonald’s Corporation
Through a myriad of relevant examples, Doug successfully brings together
data management, analytics, and economics in a book that offers practical
guidelines to manage, improve, and monetize an organization’s data assets.
The book is not only a must read for Chief Data Offi cers, but for any other
executive interested in succeeding in the Information Age.
—Leandro Dallemule, Chief Data Offi cer, AIG
Thank you, Doug, for an engaging read and for giving Data a well-deserved
“seat at the table.” This is a must have book, not only for CDOs, CIOs, and
Data Strategists but, for any executive interested in creating a data driven,
info-saavy company. Laney serves up a treasure trove of insights and observa-
tions, while also asking some embarrassingly basic questions that beg to be
answered by most companies.
—Dianna Serio, SVP, Enterprise Data Strategy,
First American Financial Corp
The secret is out now. Infonomics encapsulates the characteristics compris-
ing the kinds of companies we favor: they treat and deploy their information
as an asset, and fully appreciate its economic value. Since Laney’s pioneering
work in data warehousing, he has had a sense of information as something
other than a business byproduct or occasionally-interesting resource, and has
now graciously passed this on to the rest of us.
—Warren Weiss, General Partner,
Foundation Capital
S ince the dawn of data warehousing, information’s real and potential value to
organizations in every industry and geography has skyrocketed to the point
of underpinning the global economy today. But little has been explored
about how to fathom and harvest this value. Infonomics provides the foun-
dation to master what has been intuitively known for years, but not well
understood at all. It is essential reading for all corporate management, not
just “data folks.”
—Bill Inmon, renowned “Father of the
Data Warehouse Concept,” author and entrepreneur
Infonomics is a pragmatic handbook for C-level executives that will enable
them to speak, collaborate, and take action on their newest and most valuable
asset: information. Laney is spot on by elevating the “asset status” of infor-
mation…one to be curated, enriched, protected, and monetized judiciously.
—Steve Bakalar, VP, Digital Transformation, Georgia-Pacifi c
As it dawns to us what it means to be in the Information Age, our society fi nd
itself poorly equipped with the tools, language, and levers needed to manage
this resource effectively. While qualifying and quantifying information value
may not be obvious, Doug Laney shows it can be done. Filled with real-world
examples, simple frameworks, and straightforward practical advice, Infonomics
will benefi t business leaders, information professionals, and policy-makers alike.
—David Vaz, Data Governance and Stewardship,
National Australia Bank
Reading Infonomics will be engaging and will constantly trigger thoughts
of value creation opportunities awaiting organizations, including ones that
are immediate. I highly recommended reading this book regardless of your
industry or organizational role.
—Evon Jones, Diversifi ed former CIO Bausch & Lomb,
Liz Claiborne and Hallmark Cards
Infonomics is everything you always wanted to know about how to treat and
benefi t from information as an actual corporate asset, but didn’t even know
how or what to ask. It is a must read by CEOs, CMOs, CFOs, CIOs, busi-
ness leaders, enterprise architects, and everyone involved with data.
—Maurice Levy, Retired CEO and chairman, Publicis Groupe
Doug Laney’s Infonomics is an engaging read with interesting twists and
turns for valuing data assets. I found myself looking forward to every “next
chapter.” As a current CDO, this book will become one of my most valu-
able “go to” resources. Thank you, Doug, for this thought provoking read.
—Sherri Zink, SVP and Chief Data Offi cer,
BlueCross BlueShield of Tennessee
Infonomicsi s a must-read for anyone interested in profi ting from or manag-
ing the rapidly growing information assets held by businesses. It also pro-
vides important insights for accountants, who should be thinking about
information assets and how they might be reported to business stakeholders.
Laney’s engaging style and careful thinking make for a compelling read.
—Jon Davis, University of Illinois School of Business,
Accountancy Department Head
Doug Laney’s well-researched and compelling text is a much-needed breath
of fresh air. Laney formalizes the case for fi nally treating information as the
truly valuable asset that it is. Infonomics challenges longheld—and, quite
frankly, largely dated—beliefs about data, governance, and IT roles. It may
well make you and your organization uncomfortable in the short term—and
that’s a good thing.
—Phil Simon, award-winning author of Analytics:
The Agile Way and faculty member at the
Arizona State University W. P. Carey School of Business
Infonomics easily provides the clearest thought leadership for companies on
the true economic value of information. In time, textbooks will be rewritten
and balance sheets recalculated to account for the monetary value of infor-
mation. Doug is pioneering the establishment of this new asset class with
inspiring examples, useful metrics, and sound logic.
—Brandon Thomas, Chief Data Offi cer, Zions Bank
Doug Laney makes a compelling case for accounting for information as a
corporate asset. Infonomics expertly guides organizations to uncover their
hidden treasures and realize economic benefi ts from information assets. A
must read for all CIOs.
—Cherif Amirat, Ph.D., Chief Information Offi cer, IEEE
This is a well-written book in the emerging area combining both informa-
tion and economics. We’ve heard enough times that data/information is an
asset without any proper blueprint but this book outlines clearly how to
measure, manage, and monetize information as an asset. This will be the new
“Tesla” concept book in the new information and economics arena.
—Vijay Thiruvengadam, Executive Director for
Decision Support and Analytics, University of Michigan
Laney was one of the fi rst experts to identify and call out the power of Big
Data. Now, in Infonomics, Laney issues a call to action. This book is a wel-
come addition to the emerging body of serious literature on the power of
data in an Age of Information.
—Randy Bean, CEO and Founder of NewVantage
Partners LLC, and thought-leader and contributor to Forbes,
MIT Sloan Management Review, Harvard Business Review,
and The Wall Street Journal
This book is essential for any CDO or aspiring CDO. More importantly
it should be read by all CEOs who wish to lead a data driven business. The
ideas, concepts, and examples are well thought through and are rigorous.
This will be perpetually on my shelf and on my recommended list.
—Peter Jackson, Head of Data, Southern Water, UK
I’ve seen how hard this is fi rst hand to transform a business from a product/
feature based organization to one that is not only data driven, but competes
based on data assets. Infonomics is a great, comprehensive view on how to
approach this change and all the considerations to account for through the
journey.
—Corey Ferengul, Executive-in-Residence,
Hyde Park Venture Partners
I N F O N O M I C S

I N F O N O M I C S
How to Monetize, Manage, and Measure
Information as an Asset for Competitive
Advantage
DOUGLAS B. LANEY
Gartner, Inc.