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Data Divination: Big Data Strategies by Pam Baker

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CHAPTER 8RISE OF THE COLLABORATIVE ECONOMY AND WAYS TO PROFIT FROM IT

Big data is not only changing how business is done, it is changing the economy as well. As previously discussed, a new data economy is emerging wherein data is exchanged for money or used in lieu of currency. Data is steadily becoming a valued resource and a bankable asset. However, data in and of itself is not currently shown as a line item on a balance sheet and doesn’t appear as an asset to be depreciated on an IRS form. Nor can a company borrow money using data as collateral. At first glance this appears to be an anomaly, for how can an asset be an asset if it cannot be fully treated as one?

DATA IS KNOWLEDGE AND AN ASSET

Think of data as knowledge. Knowledge can be and ...

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