Abstract
Data represent one of the most valuable intangible assets of our time. Although companies parenthetically collect massive amounts of data with high potential value, these assets are seldom reflected in the company’s balance sheet. This article explains existing problems in the context of the valuation and accounting of data that arise from the specific nature of data. For this purpose, the special properties of data are contrasted with existing valuation approaches from accounting. Based on this, suggestions for the modification of existing valuation methods are derived and applied exemplarily to a database. Finally, perspectives for data valuation and accounting are outlined.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
Tellis S (2018) Data is the 21st century’s oil, says Siemens CEO Joe Kaeser. https://economictimes.indiatimes.com/magazines/panache/data-is-the-21st-centurys-oil-says-siemens-ceo-joe-kaeser/articleshow/64298125.cms. Accessed 6 Nov 2020
Morgan K (n. d.) Future ready: data is the new gold. https://kpmg-info.adobecqms.net/news-perspectives/future-ready/future-ready-data-is-the-new-gold.html. Accessed 6 Nov 2020
Farboodi M, Veldkamp L (2019) A growth model of the data economy. Working Paper, Columbia Business School, New York, June 20
Forbes (2020) The world’s most valuable brands. https://www.forbes.com/powerful-brands/list/#tab:rank. Accessed 6 Nov 2020
Hartmann PM, Zaki M, Feldmann N, Neely A (2016) Capturing value from big data–a taxonomy of data-driven business models used by start-up firms. Int J Oper Prod Manag 36(10):1382–1406
Wixom BH, Ross JW (2017) How to monetize your data. MIT Sloan Manag Rev 58(3):10–13
Hendriksen ES, Van Breda MF (1992) Accounting theory, Richard D. Irwin, Boston
Kanodia C, Sapra H (2016) A real effects perspective to accounting measurement and disclosure: implications and insights for future research. J Acc Res 54(2):623–676
Weber J, Schneider Y, Kaufmann L (2012) Controlling von Intangibles: Nicht-monetäre Unternehmenswerte aktiv steuern. Wiley, Hoboken
Saunders A, Brynjolfsson E (2016) Valuing information technology related intangible assets. MIS Q 40(1)
OECD (2019) Measuring the digital transformation: a roadmap for the future. OECD, Paris
Barth ME, Landsman WR (1995) Fundamental issues related to using fair value accounting for financial reporting. Acc Horiz 9(4):9
Atkinson K, McGaughey R (2006) Accounting for data: a shortcoming in accounting for intangible assets. Acad Acc Finan Stud J 10(2):85
Mouritsen J, Pflueger D (2018) Valuation as promise and care: the use of accounting in the entrepreneurial economy. HEC Paris Research Paper No. ACC-2018–1255
Brynjolfsson E, Hitt LM (1998) Beyond the productivity paradox. Commun ACM 41(8):49–55
Cao L (2018) Data science thinking. Springer, Cham, pp 59–90
Arasu A, Garcia-Molina H (2003) Extracting structured data from web pages. Paper presented at the Proceedings of the 2003 ACM SIGMOD international conference on Management of data
Blumberg R, Atre S (2003) The problem with unstructured data. DM Rev 13(42–49):62
Moody DL, Walsh P (1999) Measuring the value of information-an asset valuation approach. Paper presented at the ECIS
Bodendorf F (2006) Daten und Wissen. In: Daten-und Wissensmanagement. Springer, Heidelberg, pp 1–5
Otto B (2015) Quality and value of the data resource in large enterprises. Inf Syst Manag 32(3):234–251
Delone WH, McLean ER (2003) The DeLone and McLean model of information systems success: a ten-year update. J Manag Inf Syst 19(4):9–30
Shapiro C, Carl S, Varian HR (1998) Information rules: a strategic guide to the network economy. Harvard Business Press
Maass W (2009) Elektronische Wissensmärkte: Handel von Information und Wissen über digitale Netze. Springer, Heidelberg
Duliba KA, Kauffman RJ, Lucas HC (2001) Appropriating value from computerized reservation system ownership in the airline industry. Organ Sci 12(6):702–728
Mentzas G (2004) A strategic management framework for leveraging knowledge assets. Int J Innov Learn 1(2):115–142
Lev B (2000) Intangibles: management, measurement, and reporting. Brookings institution press, Washington
Hoffmann WD, Lüdenbach N (2018) NWB Textausgabe IAS/IFRS-Texte 2018/2019, 11th edn. Herne
Smith GV, Parr RL (2009) Intellectual property: valuation, exploitation and infringement damages 2009 cumulative supplement. Wiley, Hoboken
Moser U (2017) Bewertung immaterieller Vermögenswerte: Grundlagen, Anwendung anhand eines Fallbeispiels, Bilanzierung, Goodwill, 2nd edn. Schäffer-Poeschel, Stuttgart
Krotova A, Rusche C, Spiekermann M (2019) Die ökonomische Bewertung von Daten: Verfahren, Beispiele und Anwendungen (No. 129), IW-Analysen
Zechmann A, Möller K (2016) Finanzielle Bewertung von Daten als Vermögenswerte. Controlling 28(10):558–566
Heckman JR, Boehmer EL, Peters EH, Davaloo M, Kurup NG (2015) A pricing model for data markets. iConference 2015 Proceedings
Möller K, Otto B, Zechmann A (2017) Nutzungsbasierte Datenbewertung. Controlling 29(5):57–66
Najjar MS, Kettinger WJ (2013) Data monetization: lessons from a retailer’s journey. MIS Q Executive 12(4)
Fitzsimmons JA, Fitzsimmons MJ, Bordoloi S (2008) Service management: operations, strategy, and information technology. McGraw-Hill, New York, p 4
Parvinen P, Pöyry E, Gustafsson R, Laitila M, Rossi M (2020) Advancing data monetization and the creation of data-based business models. Commun Assoc Inf Syst 47(2):26–49
Acknowledgements
The authors gratefully acknowledge funding for the Future Data Assets project (grant number: 01MD19010C) from the German Federal Ministry for Economic Affairs and Climate Action as part of the Smart Data Economy funding program, managed by the DLR project management agency.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2023 The Author(s), under exclusive license to Springer-Verlag GmbH, DE, part of Springer Nature
About this chapter
Cite this chapter
Stein, H., Maaß, W. (2023). Monetary Valuation of Data in the Context of Accounting. In: Trauth, D., Bergs, T., Prinz, W. (eds) The Monetization of Technical Data. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-66509-1_7
Download citation
DOI: https://doi.org/10.1007/978-3-662-66509-1_7
Published:
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-662-66508-4
Online ISBN: 978-3-662-66509-1
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)