Data Related Concepts

Data Asset

As organizations around the world strive for data to make effective decisions, the COVID-19 pandemic has enabled data assets to grow in importance. A data asset is a structured, comprehensive, and validated database of information built for a specific use case & in response to a problem. Organizations rely on data assets to develop new products, improve decision-making, and add value for their customers. The report published by Gartner has estimated that poor quality data can cost organizations an average of USD 15 million every year. Validated & comprehensive data helps in cutting down on the high cost of data management. The Global Information Services Market is expected to grow by USD 50.34 billion between 2021 and 2025.