With this book, Mr. Laney may have done Wall Street a trillion dollar favor!
That may be how much hidden value there is which lies is in the information assets of digitally-driven public companies – but is not reflected on their Balance Sheets. He makes the case for monetizing and leveraging information assets so clearly, so deftly, so convincingly, and with such powerful examples – it seems that the accounting profession should be embarrassed for not having reached his conclusions sooner. He presents real formulas for calculating the value of information.
There will (and should) be pressure on the P&C insurance industry to recognize information as an asset that has value (shortly after 9-11 they quickly decided they would not pay for the loss of information, stating it had no value); and also legal decisions will need to be made considering information as an asset of value.
This is a groundbreaking book and a game-changer. In the future, business people will look back and wonder why information asset value had not been formally recognized in financial statements sooner.
Now, it is much clearer that Information Governance programs must be implemented to identify, secure, and control information assets, with the ultimate goal of optimizing and monetizing those assets. But as Laney states in his book, monetizing does not have to mean simply selling information assets. It can involve bartering or trading with partners and/or suppliers to gain favorable terms, or using analytics to develop product and service innovations, or to reduce operational costs.
One last thing: Laney’s writing style makes the book readable, and it holds your interest. The work is outstanding. The writing is far superior to that in most non-fiction biz/tech books. He laces the content with case studies, stories, comments, and even personal anecdotes, which make the book an enjoyable and satisfying read. This is a must-read for every manager and business person interested in the digital economy.
Thank you Mr. Laney!
Buy the book on Amazon and read it right away!