It’s a question echoing in boardrooms worldwide. There’s plenty of data, but its value, risks, and business potential often remain unclear. An Integrated Data Balance Sheet—a comprehensive framework for measuring and managing data value, similar to financial statements—offers a solution. It turns data from an abstract concept into a strategic asset everyone can understand and manage.
Data has become one of the most significant intangible assets. In some sectors, intangible assets—including data—account for up to 90% of company valuations. At the same time, AI and automation are reshaping business models faster than ever.
Regulation is tightening. The EU Data Act and AI Act, along with growing investor and customer expectations, increase the pressure to show that data is managed responsibly, securely, and as a verifiable part of the business model.
Companies that can clearly explain how data creates value and how risks are managed gain a competitive advantage—both in the market and in the eyes of investors.
Nordic companies are leading the way. Kesko, for example, published its own Data Balance Sheet, proving that data value and responsibility can be integrated into strategic reporting. Following examples like this, the approach is gaining traction internationally.
The Integrated Data Balance Sheet developed by Functos combines data strategy, value creation, data and AI governance, risk management, and data responsibility into one clear framework. At its core is the data balance model, which applies the logic of a traditional balance sheet to intangible assets. It includes mapping Data Capital and Data Assets, defining metrics, and creating management models.
The outcome can be a standalone report or part of the annual and sustainability report.
But the process matters as much as the result. When people in different roles and functions discuss the same value creation model, they build a shared language and understanding. This strengthens data culture, increases the sense of purpose, and accelerates decision-making.
In practice, this discussion changes mindsets: data is no longer just an IT or Data/AI issue—it becomes a strategic resource embedded in every level of the business.
The Data Balance Sheet brings clarity and transparency to data-driven business. It links data strategy to business goals and helps leadership prioritize investments and capability development. This strengthens risk management and cybersecurity and enables proactive compliance with regulation.
For employees, the process creates meaning and builds competence. Making value creation visible fosters a culture that supports innovation.
For customers and partners, it builds digital trust. Open communication about data use and shared value creation deepens relationships and increases commitment.
For investors, it provides a clear view of intangible assets. Data is capital, and its potential and risks must be described. When companies do this systematically, trust grows—and attracting capital becomes easier.
An Integrated Data Balance Sheet isn’t just a report—it’s a decision to lead with data strategically. The first step is simple: start by mapping your organization’s data assets and discuss with leadership how data drives business value.
Want to see what this looks like in practice? Check out Kesko’s Data Balance Sheet—or contact Functos to share more examples and lessons learned.
----------------------------------------------------------------------------------------------------------------------------About the Author
Mikko Merisaari is the developer of the Integrated Data Balance Sheet methodology and Partner at Functos, a boutique consulting firm specializing in data strategy and corporate communications. With over 20 years of experience advising senior leadership across multiple industries, he has successfully implemented data balance sheets at leading Finnish companies in Retail, Finance and Insurance. Mikko holds certifications in Data Strategy (UC Berkeley), Data Ethics (Cornell University), and European ESG Reporting, combining deep expertise in strategic communications with cutting-edge data value creation and governance practices.
📩 Interested in exploring how a Data Balance Sheet could work for your organization?
Contact Mikko here or connect on LinkedIn.