(Source: Guangming Daily 2024-10-31)

In the wave of the big data era, data has gradually evolved into the new "oil" for national development and has become a key resource to promote economic growth and social progress. Data not only carries information and is a valuable asset, but also an innovation engine for new productivity. The Third Plenary Session of the 20th Central Committee of the Communist Party of China proposed to "accelerate the establishment of institutions and mechanisms to promote the development of the digital economy" and "build and operate national data infrastructure and promote data sharing."

Currently, our country has made significant progress in the development and utilization of data assets. The "Twenty Data Articles" and the "Interim Provisions on Accounting Treatment Related to Enterprise Data Resources" provide legal and institutional guarantees for the confirmation, transaction and utilization of data assets. The advancement of adding data assets to the table has improved the transparency and management level of data assets and is an important step in the process of data capitalization. The continuous construction of data infrastructure has laid a solid foundation for the effective utilization of data assets. The development of the data trading market provides a platform for the trading and circulation of data assets.

In the process of building and promoting new quality productivity, the role of data assets has become increasingly significant. First of all, data assets are the cornerstone to support production decisions and can help companies and organizations discover potential market opportunities, optimize resource allocation and improve operational efficiency. Through in-depth analysis of data, we can predict market trends and consumer behavior, provide scientific basis for strategic decisions, and reduce decision-making risks. Secondly, data assets promote personalized and precision marketing. Through in-depth analysis of data, we can better understand market needs and preferences; formulate accurate marketing strategies and product recommendations to improve customer satisfaction and loyalty; help companies optimize advertising and improve advertising effectiveness and return on investment. Thirdly, data assets play a key role in product innovation and research and development. Through the analysis of market and technical data, innovation opportunities can be identified and new products and services that meet market needs can be developed. The data-driven R&D process not only shortens the product development cycle, but also reduces R&D costs and improves product success rate. In addition, data assets greatly improve operational efficiency. Through the monitoring and analysis of production process and supply chain data, production planning and inventory management can be optimized, resource waste and production costs can be reduced, and overall operational efficiency and flexibility can be improved. Finally, data assets play an important role in risk management and compliance operations. Through comprehensive analysis of financial data, transaction data and external environment data, potential risks can be identified and responded to in a timely manner to ensure business continuity and stability. It can also promote corporate compliance operations and reduce risks.

Data assets have a broad and far-reaching role in improving new productivity. However, how to better leverage the potential of data assets and release the multiplier effect of data elements is still a challenging issue that requires long-term exploration.

Data infrastructure is the support for data elements to function. It is necessary to increase investment in infrastructure such as data centers, cloud computing platforms, and the Internet of Things to improve data storage and processing capabilities. Promote the construction of 5G networks to provide a high-speed and secure network environment for data transmission. A sound data management system is the foundation of data application. Enterprises need to formulate clear data management policies and standards to ensure that the data collection, storage, processing and sharing processes comply with relevant regulations and standards, establish a data governance framework, clarify data ownership, responsibilities and authorities, and ensure data quality and security. Enterprises need to strictly abide by privacy protection regulations, respect users' privacy rights, build user trust, and ensure the compliance of data applications.

Data analysis capabilities are the key to implementing digital operations. Enterprises need to introduce advanced data analysis tools and artificial intelligence technology to enhance their data processing and analysis capabilities. By cultivating and introducing data science talents, establishing a professional data analysis team, and improving the depth and breadth of data analysis, we can discover potential business value and innovation opportunities. In order to promote data sharing and cooperation, enterprises should actively explore data sharing models and mechanisms, break down data silos, and achieve cross-department and cross-industry data circulation and collaboration. By establishing a data sharing platform with partners, upstream and downstream supply chains, and industry alliances, we can make full use of external data resources and expand the depth and breadth of data applications.

Data-driven business innovation is an important direction. Enterprises should deeply integrate data analysis results with business processes to promote innovation in business models and operating models. Small and medium-sized enterprises are an important force in economic development, but their level of dataization is relatively low. Relevant departments should actively provide policy support and financial support to help small and medium-sized enterprises improve their data application capabilities. Establish a data service platform for small and medium-sized enterprises to provide technical support and training services. Encourage large enterprises to cooperate with small and medium-sized enterprises to promote data resource sharing and technology collaboration, and improve the data application level and market competitiveness of small and medium-sized enterprises.

The value of data elements has greater potential on a global scale. Our country must actively participate in international data governance and rule-making, and strengthen cooperation with other countries in the field of data. Promote cross-border data flows and promote the sharing and utilization of global data resources. Through international cooperation, introduce advanced data technology and experience to enhance the international competitiveness of our country's data industry.

(Author: Qin Lei, special researcher at the Beijing Research Center for Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and professor at the w88 casino of Statistics, w88 casino)

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