The aim of this research is to demonstrate the importance of placing a valuation on information assets and to propose a new valuation technique that complements existing valuation methods and provides improved results. It seeks to answer the following research question: what are the attributes of information relevant to value and how can they be used to produce a valuation of the information? Using a test bed, hosted on the college's intranet for 12 days, three important variables were calculated: accessibility, lifespan and outcome across five files. Calculating these three variables is essential to conducting an accurate valuation of the information asset. The research demonstrates the relationships between these variable (accessibility, lifespan and outcome) as well as showing that they have a critical impact on the value of the information asset. The findings provide a strong rationale for the practitioner or researcher to adopt the model in real time situations. The correlation coefficients of our attributes are: 0.9996 for accessibility and lifespan; 0.9755 for accessibility and outcome and 0.9754 for lifespan and outcome. Due to the sensitive nature of some of the information held by the organization, the observations were somewhat limited. However, the model could be replicated with a collaborative arrangement between the organization and academia. This paper aims to provide a new model for risk management that can be used effectively to conduct a valuation of information assets. The approach will help the organization to better quantify their information assets and will prove to be a useful tool for the next generation of Information security managers. This paper determines the valuation of information assets based on three variables; accessibility, lifespan and outcome. These variables have been identified from the extensive literature review in the area of intangible assets.
Vaish, A., Prabhakar, A., Mishra, H., Dayal, N., Shishir, K. S., Goel, U., & Coull, N. J. (2011). Quantifying information dynamics through a new valuation system. Information Management & Computer Security, 19(5), 313-332. https://doi.org/10.1108/09685221111188601