Explore

Infonomics I: Business Information Economics and Data Monetization

Approx. 14 hours to complete

Save Course

Go to Course

Course Summary

In this course, you will learn how to apply economic concepts and tools to understand the management of information. Taught by expert faculty from the University of California, Irvine, you will explore the impact of information on business and learn how to make informed decisions in the digital age.

Key Learning Points

Understand the economic principles that underlie the value of information
Learn to analyze and manage information in business contexts
Gain the skills needed to make informed decisions in the digital age

Learning Outcomes

Understand the economic principles that underlie the value of information
Learn to analyze and manage information in business contexts
Gain the skills needed to make informed decisions in the digital age

Prerequisites or good to have knowledge before taking this course

Basic knowledge of economics
Familiarity with business concepts

Course Difficulty Level

Intermediate

Course Format

Online
Self-paced

Similar Courses

Data-driven Decision Making
Business Analytics: From Data to Insights

Related Education Paths

Notable People in This Field

Chief Economist, Google
Professor of Strategic Management, University of Toronto

Related Books

Description

Thriving in the Information Age compels organizations to deploy information as an actual business asset, not as an IT asset or merely as a business byproduct. This demands creativity in conceiving and implementing new ways to generate economic benefits from the wide array of information assets available to an organization. Unfortunately, information too frequently is underappreciated and therefore underutilized.

This first course in the two-part Infonomics series provides a non-technical perspective on and methods for understanding and taking advantage of information’s unique economic characteristics. Starting with dissecting whether the information is or isn’t an asset or even property, students will begin to appreciate the challenges and opportunities with treating it as one. Then the course examines how information behaves in the context of various familiar micro-economic concepts, and what can be gleaned from this to improve the way information is managed and leveraged. This leads to exploring the various ways information can generate economic benefits—or be monetized, including how various styles of business analytics can increase information’s potential and realized value for organizations.

Knowledge

Appreciate the unique economic, accounting, and legal characteristics of information.
Understand and apply methods for conceiving and generating broad-based and transformative business benefits from available information assets.
Identify and adapt traditional asset management principles and practices toward the improved management of information assets.
Measure information’s various value characteristics to help justify or prove information-related expenditures.

Outline

Course Orientation
Course Overview
Meet Instructor Doug Laney
Learn on Your Terms
Syllabus
ePub
More Information About the Instructor
About the Discussion Forums
Glossary
Brand Description
Learn More About Flexible Learning Paths
Updating Your Profile
Build a Learning Community with Social Media
Orientation Quiz

Module 1: What is Information?
1-1 Infonomics Overview
1-2 Information and Technology
1-3 Information as an Asset
1-4.1. A Brief History of Accounting Part 1
1-4.2. A Brief History of Accounting Part 2
1-5 Is Information Property?
Module 1 Overview
Module 1 Readings and Resources
Lesson 1-1 Knowledge Check
Lesson 1-2 Knowledge Check
Lesson 1-3 Knowledge Check
Lesson 1-4 Knowledge Check
Lesson 1-5 Knowledge Check
Module 1 Quiz

Module 2 The Economics of Information
2-1 Key Economic Characteristics of Information
2-2 Other Economic Characteristics of Information
2-3 Adapting Economic Principles for Information
2-4 The Supply, Demand, and Pricing of Information
2-5 The Marginal Utility of Information
2-6 Opportunity Cost of Information Choices
2-7 The Production Possibilities of Information
Interview with Steve Miller
Interview with Cindi Howson
Module 2 Overview
Module 2 Readings and Resources
Lesson 2-1 Knowledge Check
Lesson 2-2 Knowledge Check
Lesson 2-3 Knowledge Check
Lesson 2-4 Knowledge Check
Lesson 2-5 Knowledge Check
Lesson 2-6 Knowledge Check
Lesson 2-7 Knowledge Check
Lesson 2-8 Knowledge Check
Module 2 Quiz

Module 3 Methods for Monetizing Information
3-1 What Monetizing Information Means
3-2 Growing the Business Through Information
3-3 Information as a Form of Currency
3-4 Using Information to Reduce Expenses
3-5 Using Information to Reduce Risks and Improve Well-Being
3-6.1. Taking an Information Management Approach to Monetizing Information
3-6.2. Establishing an Information Product Management Function
3-6.3. Identify Available Information Assets
3-7 Establish What Success Looks Like
3-8.1. Evaluate Alternatives for Both Direct and Indirect Monetization
3-8.2. Adapt High-Value Monetization Ideas from Other Industries
3-8.3. Test Ideas for Feasibility
3-8.4. Preparing, Packaging, and Marketing Information Assets
Interview with Mike Rollings
Interview with Graham Waller
Module 3 Overview
Module 3 Readings and Resources
Lesson 3-1 Knowledge Check
Lesson 3-2 Knowledge Check
Lesson 3-3 Knowledge Check
Lesson 3-4 Knowledge Check
Lesson 3-5 Knowledge Check
Lesson 3-6 Knowledge Check
Lesson 3-7 Knowledge Check
Lesson 3-8 Knowledge Check
Lesson 3-9 Knowledge Check
Module 3 Quiz

Module 4 Applied Analytics
4-1 Going Beyond Business Intelligence
4-2 Advanced Analytics for Monetizing Information
4-3 Exploiting Big Data
4-4 Improved and Actionable Decision Making
4-5 Identifying Monetizable Insights
Gies Online Programs
Module 4 Overview
Module 4 Readings and Resources
Congratulations
Get Your Course Certificate
Lesson 4-1 Knowledge Check
Lesson 4-2 Knowledge Check
Lesson 4-3 Knowledge Check
Lesson 4-4 Knowledge Check
Lesson 4-5 Knowledge Check
Module 4 Quiz

Summary of User Reviews

Infonomics-1 received rave reviews from students who found the course informative, engaging, and well-structured. One key aspect that many users appreciated was the course's emphasis on real-world examples and case studies.

Pros from User Reviews

In-depth coverage of the topic
Engaging and well-structured course content
Real-world examples and case studies
Strong focus on practical applications
Highly knowledgeable and accessible instructor

Cons from User Reviews

Some students found the course content to be too technical
Limited interaction with other students
Course material can be overwhelming at times
Not suitable for beginners
Course assignments can be time-consuming

Recommended for you

Introduction to Business Analytics and Information Economics Capstone

Welcome to the Introduction to Business Analytics and Information Economics Capstone! I’m thrilled to have you enrolled in the course. I look forward to your contributions and ideas....

Save Course

Infonomics I: Business Information Economics and Data Monetization

Thriving in the Information Age compels organizations to deploy information as an actual business asset, not as an IT asset or merely as a business byproduct....

Save Course