The value of data in a company is primarily related to what aspect?

The value of data in a company is primarily related to its quality and relevance to business decisions because high-quality data that is timely, accurate, and relevant provides the foundation for effective decision-making. When data is of high quality, it enhances the ability of organizations to analyze trends, make informed predictions, and derive insights that can positively impact strategic planning and operational efficiency.

Moreover, relevant data ensures that the information being utilized is suitable for the specific context of the business, thereby aiding in achieving targeted outcomes. Quality and relevance go hand-in-hand; without them, even the most extensive datasets can lead to poor decisions and misguided strategies. In contrast, while accessibility, potential for predictive analytics, and storage capacity are important considerations, they are secondary to the need for data that directly supports meaningful and effective business actions.