In the twenty-first century, the most valuable firms in the world are valued primarily for their data. This makes data central to finance.
Data is an important asset to price, it changes firm valuation, and it is a key consideration for an entrepreneur starting a new firm.
The rise of the data economy is changing sources of revenue and sources of risk. The industrial-age measurement and valuation tools commonly used in finance need updating for a new era. The goal of this article is to describe a set of theories that serve as tools to measure and value data. It also points to unanswered questions, where more work is needed.