Data as an Asset

The video tutorial explores the concept of assets, highlighting the evolution from physical to digital assets. It defines data, tracing its historical roots and current significance as an intangible asset. The tutorial contrasts data assets with traditional assets, emphasizing data's unique properties like intangibility and multi-purpose use. It discusses valuing data assets, considering financial, achievement, and humanistic outcomes. Practical examples from industries like Rolls Royce and Pearson illustrate data's role in driving growth and success.

What defines an asset in the context of human history?

• A digital file stored in the cloud

• A resource or good used to generate value

• A physical object like a gold jewelry

• A tool used only in the Stone Age

How did philosophers in the 17th century define data?

• As a form of entertainment

• As a type of currency

• As things known or assumed as facts

• As a collection of random numbers

What is a key difference between data assets and traditional assets?

• Data assets are tangible, while traditional assets are intangible

• Data assets can be used for multiple purposes concurrently

• Data assets are stored physically

• Traditional assets increase in value over time

Why do data assets not depreciate like traditional assets?

• They are stored in the cloud

• They maintain quality over time and use

• They are more expensive to produce

• They are used by multiple users

What is a method to measure the value of data assets?

• By the financial, achievement, or humanistic outcomes they produce

• By the amount of storage space they occupy

• By their physical weight

• By the number of users accessing them

How does Rolls Royce utilize data to measure success?

• By increasing the speed of their planes

• By reducing the cost of engine parts

• By avoiding unplanned, grounded planes

• By increasing the number of engines produced

What impact does Pearson Media Company aim to achieve with data?

• To increase the number of courses offered

• To identify at-risk learners and improve student engagement

• To reduce the cost of textbooks

• To increase the number of faculty members