A business can even double its company value if it uses its data assets well: 4 tips from the expert

By: Trademagazin Date: 2024. 06. 18. 11:29

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After the initial frenzy, the picture is becoming increasingly clear as to how a business, regardless of industry, can gain concrete monetary benefits with the help of the latest achievements in artificial intelligence. The key lies in the utilization of data assets, with which even an average Hungarian company can even double its company value – believes digital strategist Ágoston Hortobágyi, who believes that it is high time to learn how to extract the real value inherent in it. The expert defined four steps, following which any company can start creating real capital value from the utilization of its own data.

The digitization of company information and the elimination of paper have been among the strategic goals of companies for a long time, so that the latest star technology, artificial intelligence, gives an even greater boost to developments. Since a universal tool that can transform previously seemingly opaque data into valuable business information with unprecedented efficiency has come to the fore and has become widely available, everyone strives to “feed” the machines with as much digital information as possible. The size of the global data analysis market is thus expected to expand from this year’s value of around 70 billion dollars to nearly 350 billion dollars by the end of the decade, but it is doubtful whether the assets burned in the sector will really bring results.

“On the one hand, there is still a lag in going paperless: the average large company of 1,000 people still wastes nearly $2.5 million a year searching for and querying information. On the other hand, even if digitalization is progressing well, a project often fails because we don’t ask the right questions and we don’t really know how and where we want to go with our data. In addition, Hungary is still among the leaders in the field of digital development, as the DESI index prepared by the European Union points out, especially in terms of the integration of human capital and digital technologies. We definitely need to speed this up”

– says Ágoston Hortobágyi, digital strategist, founder and CEO of DATAIT.