Data as an Asset for Professionals

Data as an Asset for Professionals

“Data”, a word around which all the industries revolve. Rather, DATA acts as an axis on which the entire professional spectrum is balanced. In this day and age, where cut-throat competition has become a norm of this sector, data, for any company, acts as its core asset; one which took years to curate, and holds indispensable value for the firm.

Professional rivalry among firms can also be seen through data theft, or purchasing data of a firm, in return of hefty amounts of money. For these firms, they are not only taking data, but an asset of immense value, which will provide them financial gain in multiplicity of the amount they have paid.

In earlier day and age, data was manually curated, requiring immense manual labour, and utilising human resource for long hours. This was a monotonous task, leading to burn-out and boredom on the part of the employees. Through this, data was being curated, but at the cost of the time and efforts of the employees.

To curb this issue, and with the amalgamation of technology in every sphere of our professional functioning, companies have started incorporating technological assistance for data curation and management. And the valuation profession is no different.

There are many data management tools and software designed to ease the process of data entry. The same has been developed for the Valuers to aid them in data management. This tool is called Valuers Data Interface (VDI).

Introduced by IOV Registered Valuers Foundation (IOV RVF), this tool secures Valuers’ data in the cloud, for paper-free and easy access. VDI is created to assist the Valuers fraternity by providing data efficiently, which is in due compliance with the bye-laws and regulations.

Benefits of using VDI

Some essential benefits gained with the active use of VDI are:

1. Designed for storage of extensive valuation data in a cloud-based data management tool, aiding in accurate and reliable valuations.
2. It features data repositories, databases, analytical tools, and market information sources, tailored specifically for valuation professionals.
3. VDI ensures data organization and compliance with regulatory and legal requirements for valuations.
4. It streamlines the valuation process, enhancing efficiency and effectiveness.
5. By providing access to comprehensive and up-to-date data, VDI enables informed decision-making and reliable valuations.
6. VDI is essential for achieving regulatorily compliant and accurate valuations.

Tools like these not only help in data management but will also secure it from digital threats, and provide you with a safe digital space for data storage and easy access.

If we are considering data as an invaluable asset for all the professionals, then it is also crucial to work in the direction of safeguarding our data using technological prowess.

Let’s unite as professionals, and adopt technology to not only ease our tasks, but to also safeguard our data, which is an asset in itself, created by our hard work, networking skills, and repo-building. 

Read Now "Steps to Register as a Registered Valuer Entity – IOV RVF" Click here