The value of data depends on its audience. By itself, data does not explain anything.
Despite the algorithm or latest machine learning trick, the value of data is a function of the combination of specificity and relevance.
- 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.
