Good data processed quickly and seamlessly is critical for modern businesses. Get it right and it will improve profitability and company valuation. Get it wrong and it may cost you dearly.
Think of “Big Data” and what springs to mind is likely to be cyber-attacks on critical infrastructure, security leaks, identity theft. More Edward Snowden and the National Security Agency than profit. But in the business world, data is a treasure trove. It can mean the difference between scattering services aimlessly into the wind and directing them to loyal customers who want them. It’s a calculable part of the bottom line. Or turn that around: companies that fail to fully embrace the value of data will quickly be placed at a competitive disadvantage.
“All companies have massive amounts of intellectual property, and not just traditional forms such as patents, copyrights and trademarks. Some just understand better how to protect and leverage those assets,” says Daren Orzechowski, Sourcing & Technology Transactions partner at White & Case in New York. “For almost every company, regardless of their industry, data and the tools to dissect, compile and analyze that data are now true business drivers.”
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