HOW DOES DDAM INCREASE THE VALUE OF DIGITAL ASSETS?
Every photo, image, logo, video, brochure, banner, presentation, and pamphlet you create and manage is valuable. These assets required money for purchase or time for production. While DDAM can help decrease the cost surrounding these assets, cost saving is only a small portion of what DDAM can and should do. At its core, DDAM is a blockchain hub that connects its digital spokes into almost every facet of your daily life or business. It is responsible for the digital content that affects sales, marketing, human resources, customer relations, and more. The value generated through DDAM can be felt in each of those business units.
There are even more metrics that can be built around DDAM to fit your particular model required. Compiling and analyzing data around your content is not always the first thought when investigating a Digital Asset Management system. Employing this data is essential when you really want to start driving your assets to generate more value.
Digital Data Asset Management (DDAM) conserves, curates and exploits valuable enterprise Data Assets — Enterprise Data along with their associated Services. Data Assets are now widely regarded as important in driving business value.
Just as other tangible assets are monetised, Enterprise Data and Services have a fiscal value on the balance sheet. Business Value is extracted from Enterprise Data and Services through Data Asset Management — driving Data Innovation facilitating the launch of new data products and services in the Data Economy which delivers enhanced operational performance and accelerated business results.
Every day, in every organisation, the massive volume and diversity of decisions and actions which are informed by analytics and insights derived from Enterprise Data — are increasingly driven by new and evolving Data Asset Management frameworks, data architectures and technology platforms. In every industry sector, companies are in a race to accumulate unique data assets and develop data exploitation methods — before their competitive rivals outmanoeuvre, outpace and outperform them. Those companies which do not see data as a core enterprise asset, or are unable to develop a Data Asset Management Strategy are in danger of decline — and ultimately risk business failure.
Competitiveness
Many organizations are now changing the way in which they design and manage their business and technology portfolios, plan, design and execute their Data Business Transformation programmes and projects — through Digital Data Asset Management — bringing a more successful and efficient way to continuously improve the daily execution and outcomes of core operations and processes.
Digital Data Asset Management has the potential to generate significant business impact in every public and social enterprise through business strategy enablement. Data Asset Management architectures, methods and techniques, Data Services and platforms support Data Innovation in the creation of novel data products and services, and can drive Competitiveness
Digital Data Assets — Enterprise Data and Services — are neither an abundant nor a readily available resource. Data Assets may be decomposed into a vast array of scarce, unique, valuable and often hard-won Data Points and Apps. Each Data Point is defined by its shared Metadata (format) and by its specific Content (values). Data Point occurrences may be characterised as being either structured Transactional, Event-based data consisting of temporal (historic) and spatial (geographic), personal (demographic), locational (place), fiscal (monetary), conditional (status) and transactional (event) data item values — or described as unstructured text, image, audio and video stream data content.
Each Data Point is associated with its own specific set of applications (Data Services), sources, costs and benefits. Just as businesses cannot participate in new data markets and economies without the necessary seed funding or capitalisation — similarly, those same businesses cannot generate new propensity models or pricing plans without investment in the data and algorithms to support them.
Digital Data Asset Management (DDAM) — Frameworks: –
DDAM along with the data architectures and technology platforms contains a set of Enterprise Data Frameworks which in turn consists of methods, techniques and processes to execute Enterprise Data Management tasks and decisions.
Enterprise Data Frameworks: –
Governance — audit, reporting and controls
Availability — robustness, reliability, resilience
Performance — velocity, voracity and volume
Quality — standards, compliance, traceability
Procurement — identification and capture
Curation — indexing, cataloguing and annotation
Management — storage, access and security
Communication — retrieval, publishing and distribution
Digital Data Assets will not only yield radical improvements in operational efficiency, but also release further opportunities for strategic competitive advantage.
Competitor Advantage is driven by deploying Data Science / Big Data / Fast Data, powering Analytics and Insights, with API Services accessing Cloud Computing and other 3rd Party consumer platforms.
Digital Data Asset Management, with its hybrid architecture and collaboration between open-source and blockchain, provides the mechanism for the proliferation of Data Services — presentation and process execution, data management and integration, analytics and insights. All of this, however, requires significant investment. Many enterprises are committing to this investment because of the new capacity and capabilities that the Digital Data Asset Management has planned in its forthcoming timeline.
This article is written by one of of our valued community members : Kerwin
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