particles-7104407_1280

The Value in Data

April 4, 2022 / Melody Smith / Comments Off on The Value in Data

Organizations often undergo changes due to mergers and acquisitions, joint ventures and system upgrades. These transitions can create silos containing inconsistent and redundant data. Data conversion is a key step in this process that converts raw data into meaningful information. Tech Target brought this interesting information to us in their article, “Improve data value by relying on economic principles.”

By extracting valuable insights from data, organizations can make strategic data-driven decisions, improve internal operations and find new ways to generate revenue. However, the challenge is to ensure the usability of all the available data.

It is good that data doesn’t depreciate, but it can become outdated. Current data may be more applicable, but you don’t throw away past data. There are also situations where historical data is incredibly valuable.

At the end of the day, it is important to be able to find content in data, and that happens with a strong, standards-based taxonomy. Access Innovations is one of a very small number of companies able to help its clients generate ANSI/ISO/W3C-compliant taxonomies and associated rule bases for machine-assisted indexing.

Making content findable is important to knowledge management and us.

Melody K. Smith

Data Harmony is an award-winning semantic suite that leverages explainable AI.

Sponsored by Data Harmony, harmonizing knowledge for a better search experience.

Posted in

Melody Smith

Melody K. Smith has provided organizational, social media and digital communication services to a large non-profit for the past twenty years. Prior to that she championed employee engagement and communications in the healthcare field. She holds a Bachelors degree in Marketing. When not wrangling and writing TaxoDiary content for your reading pleasure, Melody writes fiction, rescues dogs and throws legendary dinner parties.