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

381 Pages·2017·2.93 MB·English

by  Douglas B. Laney

INFONOMICS
Praise for 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 Officer, NCAA
Laney’s work redefines 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 Officer, Kimberly-Clark
We will one day look back at Doug’s work and say, it is the groundbreaking work that firmly 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 Officer, 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 field 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 information 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 firms 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 monetize 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 Officers, but for any other
executive interested in succeeding in the Information Age.
—Leandro Dallemule, Chief Data Officer, 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
observations, 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 comprising 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
Since 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
foundation 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 information…one to be curated, enriched, protected, and monetized judiciously.
—Steve Bakalar, VP, Digital Transformation, Georgia-Pacific
As it dawns to us what it means to be in the Information Age, our society find 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 benefit
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, Diversified former CIO Bausch & Lomb, Liz Claiborne and Hallmark Cards
Infonomics is everything you always wanted to know about how to treat and benefit 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, business 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 valuable “go to” resources. Thank you, Doug, for this thought provoking read.
—Sherri Zink, SVP and Chief Data Officer, BlueCross BlueShield of Tennessee
Infonomics is a must-read for anyone interested in profiting from or managing the rapidly growing
information assets held by businesses. It also provides 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 finally 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 information. Doug is pioneering the establishment of this new asset class with
inspiring examples, useful metrics, and sound logic.
—Brandon Thomas, Chief Data Officer, 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 benefits from
information assets. A must read for all CIOs.
—Cherif Amirat, Ph.D., Chief Information Officer, IEEE
This is a well-written book in the emerging area combining both information 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 first experts to identify and call out the power of Big Data. Now, in Infonomics,
Laney issues a call to action. This book is a welcome 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 first 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
Infonomics
Infonomics
How to Monetize, Manage, and Measure Information as
an Asset for Competitive Advantage
DOUGLAS B. LANEY
Gartner, Inc.
First edition published in 2018
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Library of Congress Cataloging-in-Publication Data Names: Laney, Douglas B., author.
Title: Infonomics : how to monetize, manage, and measure information as an asset for competitive advantage
Title: Infonomics : how to monetize, manage, and measure information as an asset for competitive advantage
/
Douglas B. Laney.
Description: New York, NY : Routledge, 2018. | Includes bibliographical references and index.
Identifiers: LCCN 2017011754 (print) | LCCN 2017032587 (ebook) | ISBN 9781315108650 (ebook) |
ISBN 9781138090385 (hardback : alk. paper) Subjects: LCSH: Business intelligence. | Commercial statistics. |
Information technology.
Classification: LCC HD38.7 (ebook) | LCC HD38.7 .L347 2018 (print) | DDC 658.4/038—dc23
LC record available at https://lccn.loc.gov/2017011754
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