Recovering Files From Old Hard Drive To New Computer Bjild Managing and Repurposing Your Company’s Digital Assets

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Managing and Repurposing Your Company’s Digital Assets

As adults, we’ve all been around computers long enough to know what the term “digital” means. We also deal with money long enough to understand the nature of the asset. However, combine the two terms into “digital assets” and most people’s eyes start to glaze over. Ask them to define “digital asset” and you’ll likely get a blank stare.
However, whether we know it or not, most of us own many digital assets. In most cases, these digital assets were purchased to perform some long-forgotten task and now sit idle on our companies’ hard drives, CDs, and servers…effectively collecting digital dust. We don’t know that in these dark warehouses of the computer world lies a treasure trove of valuables just waiting to be useful again.

Before we get into the how repurposing these assets, perhaps the nature of the digital asset should be more clearly defined. Basically, digital assets are your company’s assets in digital form. How’s that for stating the obvious? Seriously, though, it doesn’t have to be any more complicated than that. In their truest form, digital assets are files and collections of raw data that your company owns and has the legal right to use internally or sell or lease to third parties. This includes database information, intellectual property, transactional data, multimedia content and any other valuable digital information.

Note that I said “…precious.” Not all pieces of digital “material” qualify as assets. In fact, much of what might initially be considered a digital asset becomes a digital liability upon further inspection.

So the first step in repurposing your digital assets is the unenviable task of separating the wheat from the chaff, the good from the bad, the useful from the useless, and the valuable from the worthless. Essentially, finding and cataloging potential assets and discarding the rest. It’s nothing short of difficult and overwhelming to do, but if someone lacked the wisdom to effectively catalog your company’s data warehouses from the start, you’ll have no choice but to do it the hard way. Depending on the size of your company, this could be done in one day by an office manager, or it could be a year-long project for several members of your IT staff.

Fortunately, there are many software packages designed to help you find, catalog, and access this data. A little research on the Internet will turn up a variety of products that will meet almost any digital asset management need.

As this data is examined and cataloged, it is probably wise to continue to ask one key question: Is it of potential value to us or to anyone else? If the answer is yes, save it and catalog it. Otherwise, throw it away.

After completing this task, you should have a pretty clear idea of ​​what digital assets your company owns. The next step is to use them well to strengthen your bottom line. As mentioned earlier, these assets will be useful in one of three ways: sell, lease, or use internally.

Revisit the data you’ve cataloged and categorize it for sale, lease, or internal use. For those you may sell or rent, such as customer data, research and contact companies that may be interested in your data. If they don’t want it, there’s a good chance they know someone who does. With a little luck and effort, you can potentially turn that old dusty data into a powerful contribution to your bottom line.

For those items that have intrinsic value, such as graphics and photo files, your challenge becomes communication, awareness and ease of access. In other words, you need to let people in your company know what digital assets exist, where they can be found, and how easy it is to get them. There is no simple answer how to do it, but it is very important that it happens. Otherwise, your hard-earned assets will retreat back into the dark warehouses of the computer world from whence they came.

This brings us to the last key step in repurposing your company’s digital assets: service and maintenance. Now that you have a complete library and catalog of the assets you own, it would be ridiculous not to keep adding new assets to the collection as they become available. It would also be wise to eliminate those assets that are no longer of value to the company. The idea is to keep your asset library clean, up-to-date, and easily accessible.

An obvious but often overlooked positive quality of digital assets compared to physical assets is their eternal durability. If handled correctly, the digital photo you catalog today won’t look any different in this year’s annual report than it will on the wall of your company’s corporate office 50 years from now.

So take the time to collect, classify and catalog these assets today. Years from now, you and many others will be very glad.

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