Assessing the Value of Data Assets: An Exploratory Study of Valuation Methods

With the onset of the big data era, data assets have emerged as a crucial source of competitive advantage for companies, underscoring the significance of accurately valuing data. This paper comprehensively reviews the existing methods for valuating data assets, encompassing both monetary and nonmonetary evaluation approaches, while analyzing the merits and drawbacks of each methodology. Subsequently, a comprehensive data asset valuation model is proposed, which considers multiple factors, aiding companies in effectively assessing their resources and making strategic decisions to facilitate the conversion of data resources into valuable data assets.