Digi­tal value estimation

20. September 2018

Data have a value, but how can it be deter­mi­ned or esti­ma­ted? Before data can be ente­red into accoun­ting and audi­ting prac­tice on a value basis, stan­dar­di­sed methods of valua­tion are requi­red. To date, the data economy has lacked clear rules that would allow it to be taken into account for accoun­ting purposes.

There are various approa­ches to remedy this defi­ci­ency. Compa­ra­ble methods for deter­mi­ning value are being deve­lo­ped. Such proce­du­res require evalua­tion via audi­ting prac­tice and stan­dar­di­s­a­tion via appro­priate commit­tees in order to design the basic prin­ci­ples of accoun­ting for data on this basis. So much for theory.

In prac­tice, this can work much easier if data – intern­ally as well as extern­ally – is regarded as a mone­tizable commo­dity. A data market­place, for exam­ple, imme­dia­tely shows the value of data and data records. Here the old prin­ci­ple applies: supply and demand regu­late the price and thus the value.