The Data Value Scorecard

The Data Value Scorecard is a tool to assess and optimize your data assets. It can be used to get insights into what is required for data to be valuable in your context.

You can download and use the template from here

The Data Value Scorecard can be used in a number of different ways. The basic assumption is that we need to think about data value rather than just data quality. In order to structure how we think data can become valuable we need to look at the 7 different dimensions of data value

The 7 dimensions are divided into two spheres: the data sphere, which addresses everything related to the data itself, and the metadata sphere, which relates to issues surrounding the data. For each dimension a given data asset will need to fulfil certain criteria in order to be valuable.

Use the template together with a team of professionals with different backgrounds. Make sure that technical as well as domain knowledge is represented in the team. Go through the Data Value Scorecard and describe the data asset. Each box can be divided into two such as a current and a future state.

It can also be used as a way to asses competitive differences if your business is delivering data. In this case the left side of the box is your offering and the right side is your competitions offering.

There can be even more uses of the template as it is a generic way to think about what makes data valuable.