Value analysis of information services: On theory and methods

As information services are designed and related business or other decisions must be made, there has to be a clear understanding of the benefit generating potential of the service. The potential must come from the utility, or value, that the information is meant to deliver to its users and producers. This paper shows the methods and techniques for information valuation. The value of information is explained in this paper in the light of economic theory. The value consists of several attributes. Different attributes have varying importance in different measuring and valuation points. Hence, they also are of varying value to different actors, depending on actors' position and preferences in the value chain. With the described methods and techniques, the valuation problem can be clarified and appropriate tools selected.