Research shows the pace of digitisation of information and systems is accelerating, particularly in capital-intensive sectors with large physical asset bases. The obvious benefits of digitisation such as efficiency, scale, improved resilience and productivity gains continue to drive record investment.
The focus of companies and organisations pursuing digitisation is often utilitarian – what is possible in a digitised format that we can’t currently do in physical form? The answer is usually enticing, and additional options continue to emerge over time as familiarity with a newly digitised asset base expands.
Against key metrics, the most digitised companies and organisations strongly outperform their peers in areas like innovation, wage growth, revenue growth and service delivery.
Importantly, digitisation also produces powerful ancillary benefits in areas like skills, especially as teams across a range of functions adapt to digitised environments and opportunities. Digitisation typically enables the utilisation of business intelligence software that provides greater access to data-driven insights amongst teams with less technical experience.
Digitisation opens a universe of possibilities in areas like AI, automation, data commercialisation, machine learning and building out digital assets via blockchain.
The digitisation process typically relies on the creation or reconfiguration of data assets. It is an organic process that continues to evolve as clients, partners and others adapt to newly digitised interfaces and offerings.
Fundamentally, digitisation changes how value is captured and transferred.
Physical assets are no longer the only source of value and value creation. Digital assets are an ascendant asset class that are driving structural shifts in revenue, margins and value.
At Aurum Data, we are excited by the potential this brings and convinced that the approaches to valuation and commercialisation that worked when assets were only physical are no longer fit-for-purpose and don’t provide the holders of digital assets the insights they need.
Many companies and organisations have significant unrealised digital potential. That potential can be realised by gaining a clear understanding of the value of data assets and what value creation, growth and transfer are possible as the digital world expands.