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The Financial Value of Information

Thinking about the financial value of information is sometimes confusing.  Years of information analysis have led me to one conclusion.  That is, information (alone) is worthless.   Analyzing and learning from information is equally useless unless you take the next step.

Synthesizing information into useful knowledge upon which alternative courses of action and actionable decisions can be implemented cannot be easily valued and it’s rarely mentioned. 

Before purchasing another “how to” book or reading another blog post about “how to do this or that” – you might want to read Web Analytics: An Hour a Day  by Avinash Kaushik.  Not only is this a great book about Web Analytics – it can also serve as a model helping you learn to synthesize information into knowledge and discipline yourself to implement that knowledge to achieve a desired goal (i.e. higher conversion rates, better SEO, etc.)

One Comment

  1. Good principle…many people just want to be able to look at information without applying any historical information or future trends…the next how to book isn’t going to teach you how to look at data and use it for better financial gain like you state, i.e. adsense/SEO.

    1. Matt on December 3rd, 2007 at 4:42 pm

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