For the great majority of readers, the concept of “information” sits at the core of their professional relevance. Points of view and personal interests can vary: the thought of some will go to Shannon’s information theory, some others will think of societal aspects and the impact on economy, education, health, warfare, government, and democracy. The economic value of information has been the subject of academic studies for at least 50 years, starting from the seminal work of Fritz Machlup on the production and distribution of knowledge [1], with peaks of visibility and recognition such as the Nobel Prize in Economics awarded in 2001 to George Akerlof, Michael Spence, and Joseph E. Stiglitz “for their analyses of markets with asymmetric information” [2].

Doug Laney has worked over the past 20 years to evolve the concept of economic significance of information from the abstract, theoretical, academic domain to a practical and actionable dimension, where economic and asset management principles and practices are applied to the valuation, handling, and deployment of information assets. His book Infonomics, one of the most interesting I have reviewed in a long time, is about monetizing, managing, and measuring information as an asset for competitive advantage. One of the main qualities that I recognize in the book relates to the interdisciplinary approach the author chose to take, combining technical disciplines with practices in accounting, asset management, intellectual property rights, and innovation. This type of holistic thinking is typical of business operations and facilitates the showcasing of how information can be put at the service of the business to create new value and economic growth.

Contents are organized in three parts. Part 1 is about monetizing information as an asset, explaining the reasons and methods to achieve the goal, and the use of analytics as the enabler of information monetization. Part 2 is about managing information as an asset, introducing principles and maturity levels in information management to describe how supply chains can extend beyond one’s organization, creating complex ecosystems, and discussing standards and approaches to leverage information asset management. Part 3 is about the measurement of information as an intangible asset, dealing with ownership issues, quantification and accounting, and adaptation of economic principles to information.

The experience of the author as an analyst in Gartner’s chief data officer (CDO) research and advisory team led him to compile hundreds of examples of the “art of possible” in data and analytics, which are used pervasively throughout the book to link the concepts exposed to the dimension of the real world. The result is an impressive condensation of actionable knowledge that reads well and constitutes a deep source of inspiration and guidance for C-suite executives who care about the linkage between information and competitive advantage, improving how information is accessed and used, and realizing the actual and latent value of information assets.

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