At the start of 2011, the World Economic Forum declared personal data to be a new asset class. In the eight years since, the concept has swept through the business world, driving investment into data and analytics, forging the expanding sector we now know.
What has yet to be settled, however, is exactly how data should be valued in a true economic sense. Few companies place it on their balance sheet and even now data offices and centres of analytics excellence are exposed to cut-backs and re-organisation.
Last year, GDPR also set new terms for the data-value exchange between brands and their customers, emphasising that individuals retain rights over their personal information. Not only has this pulled into question the monetary value of an asset with shared ownership, it has also raised the issue of the values at work in gaining access and permission to this data.
At this high-level roundtable discussion, the issues of ethics, data-value exchange and the true financial valuation of personal information will come under the spotlight. Chaired by Firas Khnaisser, head of decisioning at Standard Life Aberdeen and chairman of DMA Scotland, and facilitated by David Reed, knowledge and strategy director of DataIQ, the discussion will bring together a dozen senior leading data and analytics practitioners from Scottish enterprises to share views, exchange experiences and consider strategies for the new economic formula of data’s value.
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