Data Is Gold, But Who’s Buying?

There’s an old story about a father who gives his child an ancient watch and asks him to see what it’s worth. After taking it to various places, the child gets offers ranging from nothing to a small fortune from an antique dealer. The father’s lesson is clear: some will never see your worth, but the right people will value it immensely.

How do we determine the price of the data?

This story got me thinking about data. We hear the phrase “data is the new gold” all the time—but what is this gold worth? And where’s the “antique dealer” in today’s market willing to pay top dollar for my data? Is there even a way to find such a person? Most importantly, how do we determine the price of the data?

?

For example, it’s easy to imagine that my contact information might be valuable to a marketing firm. They know that reaching a specific number of people can increase a customer’s revenue, so they can estimate what my data is worth. However, in more complex fields, like the supply chain, this becomes much murkier.

?

Today’s supply chain is not a simple exchange between two people; it’s a complex web. For true efficiency and resilience, countless parties need to collaborate, and that’s where the real challenge of valuing data emerges. How do we price the value of a piece of information, like a security breach, when it must pass through multiple hands—an analyst, a risk assessor, a financing bank—before it impacts the bottom line?

The real obstacle is that data’s value isn’t always obvious.

The real obstacle is that data’s value isn’t always obvious. Navigating a maze without a map is like trying to figure out how data influences business strategy. We call data “gold,” but without any clear way to evaluate its worth, that promise feels hollow.

The market reflects this struggle. It’s a crowded space, but deals are rare because no one agrees on what data is worth. Until a neutral, transparent platform exists to facilitate data exchange, the dream of data-driven transformation will remain just that—a dream. The urgency for a transparent pricing structure that acknowledges the real, strategic value of data within the supply chain cannot be overstated.

The urgency for a transparent pricing structure cannot be overstated.

So, what’s next? Saying that “data is gold” is easy, but unlocking that value requires a commitment to work together across the industry. If we take on this challenge, we can go beyond theory and create a system that allows data to drive real growth and innovation. With its untapped potential, the supply chain industry has the power to lead this transformation; all it needs is a vision and the resolve to make data valuable in practice, not just words.