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Data, Unleashed

On October 13, 2014, in Analytics, Big Data, Data, HR Technology, HR Trends, HRExaminer, by John Sumser

photo of zeros and ones with text overlay Data Unleashed

The value of data is a function of the combination of specificity and relevance.

The value of data is a function of the combination of specificity and relevance.[/caption]Data Defined

  • Measurement requires something to measure and something to measure with.
  • Measurements exist on a scale from qualitative (observations) to quantitative (measurements).
  • Primary data is an attribute of a person, place, thing or process.
  • Secondary data is an attribute of other data. It is also called metadata.
  • Metadata has all of the characteristics of data.
  • A piece of data is one measurement or observation.
  • Data is a record of measurement and/or observation.
  • There is no data in the absence of measurement or observation.
  • Data is created at the intersection of the thing and the measurement.
  • Data is a product of the relationship required to generate it.
  • Data is separate from the relationship required to develop it.
  • Every bit of data emerges with its own data. This includes spatial orientation and some attributes of its ‘parents’.
  • By itself, data does not explain anything. It can not tell you why.

The Value of Data

  • The value of data depends on its audience.
  • Data depreciates. Usually rapidly.
  • Data never completely depreciates. (But its value can get pretty theoretical)
  • The value of data is not inherently related to the thing that was measured (though it may be).
  • Data is the fundamental building block of information, knowledge, insight and wisdom
  • Data increases in value when combined with other data. This is usually more than additive.
  • Each added bit of data is more valuable than the last. Until it isn’t.
  • Old data can have its value renewed through association with other data.
  • One piece of data is a characteristic. Two pieces of data may become insight.
  • The value of a piece of data increases when it is a part of a pattern.
  • The value of data is a function of the combination of specificity and relevance.
  • The value of a bit of data my be entirely a function of its metadata.
  • Metadata has value independent of its underlying data
  • The value of some data is increased by hiding it or making it inaccessible.

On Value

  • There is no property, there is only data.
  • All you legally own is a description of what you own
  • Everything that happens can be understood as the manipulation of data.
  • Ownership and money are indistinguishable.
  • Ownership is a legal fiction described with data. It is so useful that it seems like a fact.
  • Ownership is a fiction designed to preserve value.
  • Value can not be owned.
  • Value is an agreement.
  • Value is a creation.
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