Research On Data Assets Valuation Based On Fuzzy Real Options

Due to the development of science and technology and the wide application of the Internet,most enterprises have a large number of data assets.Data assets can bring huge benefits to enterprises,and some have even become key assets of enterprises.Although the data asset business has been formed in the market,the concept of data asset has only recently emerged,which has not been fully studied and has not yet formed a unified data asset pricing standard in academia.How to accurately evaluate the value of data assets is an urgent problem to be solved.In order to accurately evaluate the value of data assets,based on the study of the relevant theories of data assets,this paper discusses the shortcomings of traditional evaluation methods in digital assets evaluation,and then leads to the real option method.At the same time,in order to reduce the impact of subjectivity in the evaluation process on the value of data assets and overcome the volatility of the value of data assets,this paper improves the real option model through fuzzy mathematics theory,Thus,a fuzzy real option model suitable for data asset valuation is constructed.In the process of applying the fuzzy real option model to evaluate data assets,it is found that there are difficulties in determining the current price parameters of data assets.For this,this paper chooses to build an indicator system based on the excess return method and the factors affecting the value of data assets.Through the ANP gray comprehensive evaluation method,each indicator is quantified,and the current price parameters obtained by the excess return method are finally adjusted.Finally,the data asset value is obtained by substituting each parameter into the fuzzy real option model.This paper takes the data assets of Tianhong Shares as the research object,applies the fuzzy real option model established to evaluate the data assets value of Tianhong Shares,and verifies the feasibility and rationality of the evaluation model.The following conclusions and results are obtained through research in this paper:(1)Real option method is more applicable in data asset evaluation.Traditional evaluation methods have limitations in data assets evaluation,and can not be well applied to data assets evaluation.The real option method takes into account the risk factors and option attributes of data assets,which is more suitable for data assets evaluation.(2)ANP grey comprehensive evaluation method is feasible for quantifying the influencing factors of asset value.At present,there is no universally accepted and feasible method to determine the current price of data assets,and the income method is the most commonly used in research.However,the excess return method considers the impact of factors affecting the value of data assets on the evaluation results.In this paper,ANP grey comprehensive evaluation method can be used to quantify various factors,which shows that ANP grey comprehensive evaluation method has certain feasibility in quantifying the influencing factors of asset value.(3)Fuzzy real options have certain advantages in data assets evaluation.Although the ANP grey comprehensive evaluation method used in this paper is feasible in quantifying the influencing factors of asset value,it also inevitably has some subjectivity.However,there is more or less subjectivity when the income method is used to evaluate data assets.In addition,the value of data assets is volatile,which will cause the evaluation report to become invalid in a short time.In the fuzzy real option method,the fuzzy mathematics theory fuzzies the current price,and the evaluation interval obtained by fuzzing overcomes the variability of data assets.Therefore,this method has certain advantages.