EvD Theorem #4: The Data Economic Multiplier Effect is the Real Game-changer
The ability to reuse the same data sets across multiple use cases at near-zero marginal cost is the real economic game-changer.
The use case-by-use case approach highlighted in EvD Theorem #3 is the key to exploiting the unique economic characteristics of data—an asset that never depletes, never wears out, and can be used across an unlimited number of use cases at near-zero marginal cost (yeah, there's the economic multiplier effect again). This use case by use case approach powers the economics "value in use" methodology for determining the value of a data set based upon the financial value of each use case (see Figure 5.5).
Figure 5.5: Ascertaining Data Value Use Case by Use Case
In Figure 5.5, Use Case #1 (Improve Vendor Product Quality) is worth $60M annually and requires 3 data sets (A, B, and C) to optimize that use case. Using a straight-line financial allocation...
