Datability is a concept that encapsulates an organization's capacity to effectively collect, manage, analyze, and utilize data. This goes beyond mere data possession; it's about understanding the nature of the data a company interacts with - whether it's intrinsic or extrinsic, private or neutral, objective or subjective, and dynamic or constant. Datability is about recognizing these attributes, and strategically leveraging the data to drive decision making, enhance customer understanding, optimize operations, and spur innovation.
Moreover, a datable company is not only well-versed in handling its own data, but also adept at forming strategic data partnerships. These partnerships, particularly with organizations of contrasting datability types, can lead to a more holistic and balanced data ecosystem. With enhanced datability, companies can unlock new insights, predict trends, mitigate risks, and ultimately, create more value for their stakeholders. It's clear that in today's data-driven world, datability is a critical competency that can set an organization apart.
Determine your datability type to unlock your data's full economic potential.
Each Datability Type is defined by four categories: the data source (Intrinsic or Extrinsic), the privacy level (Private or Neutral), the data nature (Objective or Subjective), and the data's temporal aspect (Dynamic or Constant). Intrinsic data comes from within the organization, while Extrinsic data is obtained from outside sources. Private data refers to personal or sensitive information, while Neutral data is non-personally identifiable. Objective data is factual and verifiable, whereas Subjective data is opinion-based and variable. Dynamic data changes in real time, and Constant data remains relatively stable over time.
These categories come together to form 16 unique Datability Types, each with its own strengths, weaknesses, and ideal use cases. Understanding these types and their implications is crucial for organizations as they navigate the data-driven landscape. It guides how they collect, handle, and utilize data, and also informs their strategic partnerships, compliance measures, and overall business strategy. Being attuned to these Datability Types can help organizations unlock the full potential of their data, thereby driving innovation, growth, and competitive advantage.
