OLD TAPPAN, N.J. - Jan. 12, 2023 - PRLog -- YDC today proudly announces the General Availability of YDC Data Economics Center. YDC enables chief data officers (CDOs) to quantify the financial value of company data using internal and external sources of information:
- YDC Data Economics Dashboard allows CDOs and data stakeholders to track the value, cost, and ROI of data products, data initiatives, reports, and critical data elements
- YDC Recommendation Engine offers recommendations to enable new monetization, brand, or risk mitigation opportunities that are grounded in both industry-specific and industry-agnostic best practice frameworks
- YDC Data Products allows users to tie the value of their data initiatives to industry frameworks such as the EDM Council's Data Management Capability Assessment Model (DCAM) and Cloud Data Management Capabilities (CDMC) as well as the Saudi National Data Management Office (NDMO)
- YDC Knowledge Base provides industry examples and business case templates to help CDOs jumpstart their data value realization programs
- YDC DMI Index benchmarks data value on a weekly basis across 750 companies accounting for 60 percent of the market capitalization of the S&P 500
"We are still early in our journey but the market is clearly responding to our value proposition around data economics," said Sunil Soares, CEO of YDC and co-chair of the EDM Council's Data Office ROI working group.
"The YDC platform offers a unique blend of data, financial acumen, and technology and addresses an underserved market," said Wendy Turner-Williams, YDC Board Advisor and former CDO of Salesforce and Tableau.
"YDC demonstrated how data economics can play a critical role in your data roadmap by linking financial value to your data products," said Trent Lezer, Chief Data Officer and Managing Director at Greystar Real Estate Partners.
"Data is one of the most important and distinctive intangible assets available to a company, which at the same time represents value and enables value creation through continuous interactions with other intangibles," said Stefano Zambon, Full Professor of Accounting and Business Economics at the University of Ferrara, Italy, and a worldwide authority on intangible assets. "Indeed, especially in some industries, the management and use of data are key aspects of the capacity of an entity to generate value in a sustainable way over time. Accordingly, the valuation of data is critical for executives and their companies. Unfortunately, internally generated data cannot be recognized in financial reports owing to restrictive accounting standards, and this provokes a knowledge and awareness gap inside and outside organizations, with a concrete risk of a systematic underestimation of the corporate value."
YDC focuses on data economics to help organizations quantify the financial value of data. For more information, visit www.yourdataconnect.com.
Wendy Turner-Williams is YDC Board Advisor and former CDO of Salesforce and Tableau. For more information, visit https://www.linkedin.com/in/wendy-turner-williams-8b66039/.
The EDM Council is the global association created to elevate the practice of data management as a business and operational priority. The EDM Council is a global organization, with over 350 member organizations from the United States, Canada, United Kingdom, Europe, South Africa, and across Asia-Pacific and over 25,000 data management professionals as members. For more information, visit https://edmcouncil.org/ for the EDM Council or https://edmcouncil.org/page/DataROI for the Data ROI Working Group.
NDMO is part of the Saudi Data and AI Authority and is tasked with establishing excellence in governing data as a national asset to enable the realization of the vision of the Kingdom of Saudi Arabia. For more information, visit https://sdaia.gov.sa/ndmo/?Lang=en.
Sunil Soares, CEO YDC
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