Mike Rizzo posted a link to on the DAM News LinkedIn group to an article by Medhat Mahmoud, of Huawei Technologies: Digital Asset Management and IoT – The innovation path from Digits to Value. The piece is about DAM and the Internet of Things (IoT) but there are wider lessons for those involved with digital assets of all kinds. The key quote is this:
“The digital assets will no longer be just stored static digits belonging to one entity, but is becoming a stored dynamic value with potential to generate more value to many, even unrelated, entities” [Read More]
There is a lot more, however, in particular the following:
“The majority of digital assets have a set monetary value. Since digital assets represent a digitization of the elements owned by a user or an entity, assets value usually increases according to their usage. So, in general, the value gained from digital assets can be open for growth, depending on how far it can be re-used and shared to serve other entities. In other words, it can shift from a static, limited value to a shared, dynamic, limitless value.”
Medhat lists a number of examples in fields like utilities, vehicles, smart cities to support his thesis, which is essentially that you need to focus on the value aspect of DAM rather than the ‘digital’ element of how assets might be delivered or represented.
This is one of a (very) select number of articles I have read about DAM that understands the true nature and depth of our subject. I have to say, the context the item appears in does Medhat no favours as most of the other pieces in the CIO Review ‘Media & Etnertainment’ special are the usual DAM vendor sales-spiel that you can read on the websites of the firms concerned (note to CIO Review also: the 1990s-style blocking the use of the browser ‘copy’ feature on your site merely frustrates those who want to legitimately cite your articles, it won’t stop your material from getting ripped off). His piece, however, has hit the nail on the head when it comes to understanding what Digital Asset Management is all about.
The significant point with this item (and our whole discussion of DAM value chains) is that digital assets are assemblies of metadata, which can appreciate in value and sophistication the more connected you make them – which also means they can be applied to a limitless range of uses. Those involved in the DAM market should read through this article and understand the commercial implications. There is a undeniably a lot of hype about IoT but the potential revenue opportunity and wider changes it will usher in seems like it will be very significant, just based on a superficial examination of how many different aspects of everyone’s lives this technology is likely to touch. Digital assets are an ideal conceptual model for representing IoT data (amongst others – as noted by Medhat) and it should be a source of great encouragement for those involved in DAM to see them being adopted in the manner discussed in this article. In addition to this one, I recommend re-reading Lisa Grimm’s piece last year, DAM Expands Its Reach in the Enterprise, which I also discussed at some length.
For anyone considering writing an article for our Improving DAM series, Medhat’s article might provide a useful source of inspiration for some more unique angles on the subject that others may not have thought of. When it comes to getting to grips with genuine DAM innovation, this is definitely more like it.
- Digital Assets: The Raw Materials Of Digital Transformation
- The Role Of Microservices In Digital Asset Management
- Understanding The Value Embedded In Technology Supply Chains
- The Opportunities And Risks Of Creative Production Supply Chains
- Using DAM To Distribute Digital Assets To Social Media Platforms