Authority of Knowledge

In 1964 Peter Drucker wrote Managing for Results and identified the concept of the 'knowledge worker' and that the 'authority of knowledge' was more significant than that of hierarchy. Big Data is a major driver as organisations seek to grasp its potential, and this is increasingly coupled to the proliferation of connected devices.

The underlying value of data as an asset in the connected world can be hard to figure but by looking at the valuations placed on Big Data 'siren' companies such as Facebook - To Facebook You’re Worth $80.95 (The Wall Street Journal, May 2012) - you can start to see how data can be valued.

The results show that you are worth about $81 to Facebook. Your friendships are worth $0.62 each, and your profile page could be valued at $1,800. The value of a business page is worth approximately $3.1 million. Put another way, Facebook’s nearly one billion users have become the largest unpaid workforce in history.

Some companies are learning to use large-scale data gathering and analytics to shape strategy and develop new products and services. Some are not.

Most organizations do not benefit from a global pool of data-churning staff and a pure information-based business model. But to remain competitive, they must continually become more information-centric. This starts with CIOs considering what sources of information are available both internally and externally, envisioning how this information can be deployed in transformative ways, and valuing and managing information as an actual corporate asset.

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