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The Value of Good Information
Companies require good information to make smart investments in technologies that can enhance their business.
Mar 21, 2018—
If I had legally obtained information that would tell you which stocks would go up tomorrow or during the next five trading days, how much would you be willing to pay for it? Probably a lot. The most successful investing newsletters charge tens of thousands of dollars a year for this service. Likewise, if your company was thinking of investing in expanding to a new location, or in new technology, and I could predict with great accuracy the additional value the investment would bring, what would that be worth? Again, probably a lot.
Unfortunately, it's not always clear what the value of information is—and even when people get information that saves them time or money, they don't always realize it. You are probably grateful when your GPS app steers you around a traffic jam, but how thankful is your boss when you learn, at a conference, to avoid doing something that could delay your project or double the cost?
Non-financial business information has been devalued. This is partly the fault of media companies that saw a way to make money by giving away trade publications and selling ads. There were two fundamental problems with this business model. First, media companies couldn't afford to invest in good content because they didn't have subscription revenue, and second, no one valued the information since it was free. The internet exacerbated the problem. There is so much information online, much of it of very low quality, that some companies see no need to pay for information.
As someone who has spent his entire career providing information to companies, I strongly believe that there is a lot of value in good information. RFID Journal provides high-quality news daily, and this has helped many businesses to deploy RFID solutions that have saved them money or helped them in other ways.
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