Infonomics
Infonomics is the theory, study and discipline of assigning economic significance to information. It provides the framework for businesses to measure, manage and monetize information as a real asset. Infonomics endeavors to apply both economic and asset management principles and practices to the valuation, handling and deployment of information assets.
The term is a portmanteau of "information" and "economics" but should not be confused with information economics or economics of information which refer specifically to how information is used in decision-making, rather than how information behaves or can/should be treated as an economic asset itself.
Origination and history[edit]
In the late 1990s, then META Group and now Gartner IT industry analyst Doug Laney coined the term Infonomics to describe his proprietary research and consulting around quantifying information’s value and defining how to manage information as an actual enterprise asset.[1] This concept stemmed from his work with data warehouse pioneer Prism Solutions (now part of IBM) at which he and his professional services colleagues developed information auditing techniques to validate and qualify and quantify source data quality characteristics and potential business value. These methods were formalized into Prism's commercial ITERATIONS data warehouse methodology still offered by IBM.
See also[edit]
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References[edit]
- ↑ META Trends, META Group, December 1999 (out of print)
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