Methodological review reveals a lack of consensus in data valuation approaches across organizations, suggesting a new typology linking empirical methods to specific data types.
With the growing use of digital technologies, data have become core to many organizations’ decisions, with its value widely acknowledged across public and private sectors. Yet few comprehensive empirical approaches to establishing the value of data exist, and there is no consensus about which methods should be applied to specific data types or purposes. This paper examines a range of data valuation methodologies proposed in the existing literature. We propose a typology linking methods to different data types and purposes.
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Coyle et al. (2023) studied this question.
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