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Data Asset Management and National Australia Bank
Part A
    Business valuation practitioners usually use three approaches to valuing a company, which ultimately rely on one or two depending on the type of case and other variables: expense, market and income approaches (Glue Reply, 2019). Data can be assigned a cost, like any corporate assets ( i.e. how much it costs to collect and maintain); and it has a value (recognized by whom, by whom, and how much it is used). However, it has a number of features which make it different from other corporate properties. Similarly, data that is reused several times not only complicates ownership, but also adds expense to the process rather than value, due to the need to maintain separate data storage, build interfaces or even reconcile different versions of the 'fact' manually. This process has to go through the law that the data shared is the data that is valued the most; the companies secure their ownership over the data by tagging it in this way (Glue Reply, 2019).
Moreover, the companies follow the trend that they are permitted to share the indefinite amount and number of data assets they own as it will not reduce the value of it. This is the first approach with which, data is transferred from one end to the other (Glue Reply, 2019). This is more like understanding the fact that the data is shared through a particular network that is built between the organizations working in the same sector. All involved in the data ownership process must understand the specific characteristics of data if the data under their care is to be completely leveraged to the company's advantage. It is fitting to follow a 'philanthropic' approach which means that the use of data is not reserved, as mentioned above. The source attribute of data, since the time its form and structure was done, is relatable to the fluidic nature with which, data production is done(Werger, 2020).
    Secondly, data is not subjected to have depreciation of value like other objects. For example, buying a vehicle simply reduces its value over the course of time because it is used and using the object reduces its cost (Werger, 2020). This concept is not applicable over data assets; organizations tend to look at the options they have to earn more through the transfer of data from one end to the other, exploring more sources that have not gone through the data owned by them or rather. This approach is driven from the generation of revenue; the utilization of data for pure income purposes. For example, the companies operating in social media segment use the photos and videos uploaded by the customers as their copyright property—though they follow the privacy policies of their own, however, users are not always allowed to share the data from one platform to the other, unless the two organizations are aligned with some professional goals (Werger, 2020).
    Data is not a field to be conquered and guarded off well; rather, the more it is consumed, the more it becomes valuable. The organizations also follow the trend that the data owner should not be a gatekeeper; there must be no signs and no protectionism of 'keep out - private property, while ensuring that all changes take place under the auspices of good data governance and acceptable security standards (Werger, 2020). As they introduce another dimension to the way data owners think about their data, the idea of unique data users is a significant one. If their owners actively follow policies such as protection, master data and convergence, special consumers deserve a rise in valuation; but they may also be awarded negative ratings (Werger, 2020).
For instance, information that has been placed into a data inventory but is not used by any customer is unnecessary and should be eliminated. Recognizing this, owners would see a decrease in the value of the data they are liable for. If data owners then fix the situation, their behavior will cause an increase in value again, perhaps by eliminating the unused data through incorporation (Werger, 2020). The passive state of data storage simply...