Podcast
Questions and Answers
What does ISO 15489-1:2016 describe records as?
What does ISO 15489-1:2016 describe records as?
- Intangible goods
- Digital commodities
- Liabilities
- Assets (correct)
According to ISO/TR 21946:2018, what is the purpose of appraisal in record management?
According to ISO/TR 21946:2018, what is the purpose of appraisal in record management?
- To identify records for disposal
- To analyze business context, business activities and risk for decision making (correct)
- To assign monetary value to records
- To classify records based on sensitivity
What is the primary goal of an organization, according to the concept of Infonomics?
What is the primary goal of an organization, according to the concept of Infonomics?
- To manage records and information
- To minimize risk and maximize security
- To make a profit or serve the public (correct)
- To comply with regulatory requirements
What is the main challenge in determining the value of records, according to ISO 15489-1:2016?
What is the main challenge in determining the value of records, according to ISO 15489-1:2016?
What is the focus of the concept of Infonomics?
What is the focus of the concept of Infonomics?
What is the relationship between risk mitigation and economic benefits in records management?
What is the relationship between risk mitigation and economic benefits in records management?
Who challenged the traditional view of information as a representation of business activities?
Who challenged the traditional view of information as a representation of business activities?
What is the primary objective of appraisal in records management, according to ISO/TR 21946:2018?
What is the primary objective of appraisal in records management, according to ISO/TR 21946:2018?
What is one method that The National Archives uses to generate income from digital images?
What is one method that The National Archives uses to generate income from digital images?
What additional fee does The National Archives impose for commercial use of its images?
What additional fee does The National Archives impose for commercial use of its images?
What is a significant concern regarding information assets based on increased value?
What is a significant concern regarding information assets based on increased value?
Which aspect does NOT affect the level of protection required for information assets?
Which aspect does NOT affect the level of protection required for information assets?
What type of content does Shutterstock license for training machine learning models?
What type of content does Shutterstock license for training machine learning models?
What type of fee is associated with a digital image from The National Archives for an image downloaded for personal use?
What type of fee is associated with a digital image from The National Archives for an image downloaded for personal use?
What defines Infonomics according to Laney?
What defines Infonomics according to Laney?
What significant event led to businesses filing insurance claims for lost data, which were subsequently denied?
What significant event led to businesses filing insurance claims for lost data, which were subsequently denied?
Which type of asset is emphasized as not being accounted for on balance sheets despite its value?
Which type of asset is emphasized as not being accounted for on balance sheets despite its value?
Goodwill is described as:
Goodwill is described as:
According to the information provided, what has remained unchanged regarding data as a corporate asset?
According to the information provided, what has remained unchanged regarding data as a corporate asset?
What is classified as a purchased intangible asset?
What is classified as a purchased intangible asset?
Which of the following is an example of a tangible asset?
Which of the following is an example of a tangible asset?
Which statement regarding intangible assets is true?
Which statement regarding intangible assets is true?
What impact did the 2023 interview with Laney highlight about the treatment of data in corporations?
What impact did the 2023 interview with Laney highlight about the treatment of data in corporations?
Which factor may lead to the inclusion of intangible assets on a company's balance sheet?
Which factor may lead to the inclusion of intangible assets on a company's balance sheet?
Which of the following intangible assets of Coca-Cola is not directly mentioned in the text as contributing to the total intangible assets value of $33,223,000?
Which of the following intangible assets of Coca-Cola is not directly mentioned in the text as contributing to the total intangible assets value of $33,223,000?
Based on the information provided, what percentage of Coca-Cola's total assets in 2016 were intangible assets?
Based on the information provided, what percentage of Coca-Cola's total assets in 2016 were intangible assets?
Which of the following is NOT mentioned in the text as a potential item to be reviewed when assessing a company's intangible assets?
Which of the following is NOT mentioned in the text as a potential item to be reviewed when assessing a company's intangible assets?
The text highlights a shift in the composition of Coca-Cola's assets. Which statement best captures this shift?
The text highlights a shift in the composition of Coca-Cola's assets. Which statement best captures this shift?
Which of the following is NOT a common characteristic of asset-light business models?
Which of the following is NOT a common characteristic of asset-light business models?
How did Uber adapt its business model in response to the COVID-19 pandemic?
How did Uber adapt its business model in response to the COVID-19 pandemic?
How does Uber generate revenue through its partnerships with drivers?
How does Uber generate revenue through its partnerships with drivers?
Which of the following is NOT an example of a service that Uber relies on, which utilizes algorithms?
Which of the following is NOT an example of a service that Uber relies on, which utilizes algorithms?
Based on the text, which of the following best describes the concept of 'route finding' algorithms?
Based on the text, which of the following best describes the concept of 'route finding' algorithms?
Which of the following statements accurately reflects the relationship between information assets and GAAP?
Which of the following statements accurately reflects the relationship between information assets and GAAP?
Which of the following is NOT a factor that Uber uses to determine driver ratings?
Which of the following is NOT a factor that Uber uses to determine driver ratings?
Based on the text, what is the primary reason why Uber can be considered a company that leverages information assets effectively?
Based on the text, what is the primary reason why Uber can be considered a company that leverages information assets effectively?
What is the primary challenge in valuing information assets like Uber's algorithms?
What is the primary challenge in valuing information assets like Uber's algorithms?
What does the text suggest as a method for valuing a class of information assets, like customer and driver data in Uber's system?
What does the text suggest as a method for valuing a class of information assets, like customer and driver data in Uber's system?
Which of the following is NOT a method described in the text for valuing information assets?
Which of the following is NOT a method described in the text for valuing information assets?
The text states that a pure algorithm is explicitly exempted from being patentable in the U.S., but an application of the algorithm may be. What does this suggest about the patentability of Uber's algorithms?
The text states that a pure algorithm is explicitly exempted from being patentable in the U.S., but an application of the algorithm may be. What does this suggest about the patentability of Uber's algorithms?
What is a key requirement for data/information to be considered worthy of valuation?
What is a key requirement for data/information to be considered worthy of valuation?
Which of the following statements best describes the relationship between Uber's algorithms and its information assets?
Which of the following statements best describes the relationship between Uber's algorithms and its information assets?
Based on the text, how does Uber use information assets to achieve its goals?
Based on the text, how does Uber use information assets to achieve its goals?
The text mentions a patent (US9066206 B2) related to Uber's business methods. What does this patent likely cover?
The text mentions a patent (US9066206 B2) related to Uber's business methods. What does this patent likely cover?
Study Notes
Information Value and Appraisal Standards
- ISO 15489-1:2016 defines records as “assets” but lacks clarity on their economic value.
- Appraisal involves analyzing business context and risk to determine which records to create, manage, and retain.
- ISO/TR 21946:2018 provides guidance on appraising records, linking them to business functions and risk assessments.
Infonomics
- Infonomics, as defined by Douglas B. Laney, is the discipline that assigns economic significance to information.
- Laney argues for treating information as formal assets, similarly to tangible and intangible assets.
- Historical context: Following 9/11, insurance claims for lost data were frequently denied, reinforcing the ambiguity surrounding data as an asset.
Asset Classification
- Business assets can be tangible (physical) or intangible (non-physical such as patents, trademarks).
- Goodwill represents the premium paid above book value during acquisitions, indicating intangible asset valuation.
- Purchased intangible assets are recognized for those that lack physical presence but provide value.
Information Assets Definition
- Information Assets encompass elements not typically recorded on balance sheets, recognized for their value and lifecycle.
- The UK’s National Archives defines them as defined bodies of information, while Gartner includes various forms such as employee knowledge and structured data.
Intangible Assets in Business
- Coca-Cola reported intangibles comprising 34% of its total assets in 2024, emphasizing the growing significance of non-tangible assets.
- Generational Equity suggests reviewing intangible assets as part of mergers and acquisitions for maximizing corporate value.
Asset-Light Business Models
- Companies like Uber, Airbnb, and Instacart operate with low initial investments, yet achieve high returns.
- Uber's revenue stems from driver partnerships (taking 20-25% commissions) and promotional affiliations with brands.
Algorithm Use and Information Valuation
- Algorithms in companies like Uber optimize pricing and routing, significantly impacting service efficiency.
- Valuing information assets depends on data governance and ensuring the quality of data.
- Laney introduces valuation models: Cost Value of Information (CVI) calculates expenses for data generation, and Market Value of Information (MVI) assesses the potential exchange value of data.
Licensing and Revenue Generation
- Organizations can license information assets, deriving income through subscription services or exclusive access agreements.
- The National Archives generates revenue by selling digital images, highlighting how institutions monetize information assets.
Risk and Protection of Information Assets
- Concerns surrounding the protection of information assets have surged as their value grows.
- Risk management strategies depend on the potential impact of information loss and the organization’s risk tolerance.
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Description
Learn about records appraisal standards, infonomics, and how to assign economic significance to information assets. Understand the importance of business context and risk in determining records management.
