Post by account_disabled on Dec 28, 2023 4:48:23 GMT
Afulfilling the three roles held by money a unit of measurement a store of value and legal tender. But its interesting to go further with the analogy by asking ourselves what gives money its power and what allows it to fulfill these three functions in the best conditions Indeed not all currency is equal. Pokmon cards are units of measurement EX HP etc. a store of value and they serve as phenomenally powerful legal tender on the playground. But in certain circumstances we probably prefer dollars or euros to Pokmon cards. The same goes for data. How can we ensure that the data we collect and generate has a value closer to that of the dollar than of a Pokmon card Moneys strength is based on two key characteristics confidence and liquidity.
And the analogy with data works perfectly here as well. But unfortunately confidence and liquidity are too often neglected endangering socalled datadriven digital strategies. Confidence First lets talk about confidence. The etymology of fiduciary Phone Number List confidence reminds us of their shared origin fides meaning faith in Latin whereas credit comes from credere or to believe. If theres no confidence in its legitimacy as legal tender or in its ability to withstand the test of time a currencys value collapses. The most flagrant example of this was the hyperinflation in s Germany today we see the pound subjected to Brexitfueled anxiety.
With regards to data a lack of confidence and thus a loss of value can happen on several different levels Confidence and trust in the datas consistency and reliability. All too often the exponential multiplication of analytics tools the impossibility of measuring different platforms web mobile apps offline in a consistent way a lack of certification or simply mediocrequality data collection and storage all make it difficult for decisionmakers to trust the data theyre given. In order to make truly strategic datainformed decisions its essential to ensure the credibility and constancy of.
And the analogy with data works perfectly here as well. But unfortunately confidence and liquidity are too often neglected endangering socalled datadriven digital strategies. Confidence First lets talk about confidence. The etymology of fiduciary Phone Number List confidence reminds us of their shared origin fides meaning faith in Latin whereas credit comes from credere or to believe. If theres no confidence in its legitimacy as legal tender or in its ability to withstand the test of time a currencys value collapses. The most flagrant example of this was the hyperinflation in s Germany today we see the pound subjected to Brexitfueled anxiety.
With regards to data a lack of confidence and thus a loss of value can happen on several different levels Confidence and trust in the datas consistency and reliability. All too often the exponential multiplication of analytics tools the impossibility of measuring different platforms web mobile apps offline in a consistent way a lack of certification or simply mediocrequality data collection and storage all make it difficult for decisionmakers to trust the data theyre given. In order to make truly strategic datainformed decisions its essential to ensure the credibility and constancy of.