How Much is that Byte Worth? Quantifying the Value of Information

About the Value of Information

In some ways, data are like gold ore – of little worth in bulk, but of enormous value when refined into useful information. Making some information public would lower or eliminate its value, like trade secrets. In other cases, the value of the information depends upon how well-known it is, like a photo on Instagram or a video on YouTube.

What about personally identifiable information that companies are required to keep private?

Such information represents a liability for financial services firms – in other words, it has a negative value. Further muddying these waters is the question of veracity. Fake news is worse than no news at all.

Key Takeaways from this Session about the Value of Information

• Learn the difference between data and information, and why this distinction is important.
• Gain a greater understanding of the complexities of valuing information.
• Take away some practical advice for considering the value of information in financial services organizations.

This presentation was held at the RavenPack Research Symposium in New York on September 10, 2019.