Deciphering Data Terminology: Asset, Product, Dataset
– What Exactly is Data?
We developed an analogy centered around a “box” (or parcel) to simplify the concept of data products into three critical components.
1 – Inside the box
This is where the actual data resides – a reusable, readily applicable dataset that provides solutions to real-world business challenges.
2 – Label and manual
Understanding the data’s origin, ownership, usage constraints, and its lifespan is vital. Think of this metadata as the label and manual that guide responsible and effective data handling.
3 – Physical format of the box
The decision of how we store or provide access to the data product is paramount. Do we opt for a database table, or is it accessible via an API? This choice shapes the data’s usability.