DIGITAL ASSET MANAGEMENT

(DAM) STUDIES DIGITAL ASSET MANAGEMENT (ICM560)

NUR IZZAH INSYIRAH BINTI MOHD YUSOF

DR. HASLINDA BINTI HUSAINI

AUTHOR'S PROFILE

IZZAH INSYIRAH Student

Nur Izzah Insyirah Binti Mohd Yusof is a Bachelor of Information Science (HONS) Information Content Management student at Universiti Teknologi MARA (UiTM) in Malaysia. She has a interest in digital asset management and has conducted extensive research on the subject as part of her academic coursework. Her passion for digital asset management stems from her belief that effective management of digital assets is critical to the success of businesses in today's digital age. She is committed to helping organizations leverage the power of digital assets to drive growth and innovation. She is excited to share her findings and recommendations on digital asset management in Malaysia through this e-book. She hopes that her insights will help businesses and professionals in the country to overcome the challenges and seize the opportunities associated with managing digital assets effectively.

ABSTRACT This e-book on Digital Asset Management (DAM) Studies provides a comprehensive overview of the challenges and opportunities associated with managing digital assets in Malaysia. The e-book examines the importance of DAM in today's business landscape and suggests key elements for DAM success in the country. It also highlights the need for continued research and development in this field to address the evolving needs of businesses and industries. The e-book provides valuable insights and recommendations for businesses and professionals interested in digital asset management, including proper planning, stakeholder engagement, and continuous improvement. By embracing DAM as a strategic component of their operations, organizations can unlock new opportunities for growth and innovation while mitigating risks associated with managing digital assets. Overall, this e-book aims to provide a useful resource for anyone interested in understanding the importance of digital asset management in Malaysia and how it can be implemented successfully.

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DIGITAL ASSET MANAGEMENT

01

Introduction

02

Digital Asset Management

03

TABLE OF CONTENTS

1

Article 1

2-3

Article 2

4-5

Digital Asset Management in Business Case Study 1

6-7

Case Study 2

8-9

04

Digital Asset Management Job

10-11

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Digital Asset Management Issues and Challenges in Malaysia

12-15

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Digital Asset Management Success Key Elements

16-19

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Conclusion

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INTRODUCTION In the current digital era, digital asset management (DAM) has become increasingly crucial. With the rise of digital content and the need for organizations to manage their assets efficiently, DAM has become a necessity for many businesses. Digital Asset Management is a vital component of a modern organization's strategy for managing and distributing digital assets effectively. Through the use of DAM, organizations can streamline their workflow, reduce costs, and increase efficiency, ultimately leading to better business outcomes. This eBook will provide some background information on what Digital Asset Management is and how it works based on the articles and case studies that I have studied. This eBook will also provide positions related to DAM jobs from any Malaysian jobs vacancy website. Besides, it will examine the issues and challenges on managing digital asset in Malaysia and key elements for DAM success in Malaysia. In summary, this paper aims to provide a comprehensive overview of Digital Asset Management and its importance in today's business landscape.

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DIGITAL ASSET MANAGEMENT (ARTICLES FROM SCOPUS ONLINE DATABASE) Article 1: Blokchain-based Power Digital Asset Security Management Framework The article titled "Blockchain-based Power Digital Asset Security Management" by Caijun Zhang et al. discusses the challenges faced by power companies in managing their digital assets due to their hierarchical management structure. The article proposes a blockchain-based digital asset management framework that utilizes the decentralized, untrustworthy, and hard-to-tamper features of blockchain to optimize security authentication mechanism, data recording and consensus process, and data storage and transmission strategy involved in blockchain data sharing applications. The framework can effectively ensure the security, integrity, operability, and consistency of digital assets in the management process under the blockchain environment. The article highlights the importance of using advanced digital technology to process and optimize the various information resources generated by enterprises in the new era. Most power companies choose to build big data centers or cloud platforms to achieve centralized management and full-process control of digital assets. However, due to the hierarchical management structure of power companies, the original data needs to be circulated layer by layer. The subordinate institutions are not highly motivated, the data update is slow, and the reliability of the data is difficult to guarantee. The existing digital asset management mechanism is difficult to meet the needs of large-scale data storage, sharing, protection, and value mining.

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The article proposes a blockchain-based digital asset management framework that consists of a distributed database, a credit scoring system, a data blockchain, data recording nodes, data monitoring nodes, and third-party users. In this structure, through the improved PBFT mechanism and credit point system, the efficient management of the entire life cycle of data is realized, and the security and reliability of the data are guaranteed. The flow of the entire data asset management framework is as follows: Node users upload digital assets to the distributed storage system, and extract data summaries and meta-information based on rules. After the supervisory node has passed the review, it will be synchronized to the blockchain network. Only the metadata (size, address, type, description, etc.) of the original data needs to be saved in the blockchain network. The supervisory node provides services such as data encryption, data desensitization, credit assessment, data. The article also discusses the risks associated with data sharing and exchange, such as identity credibility risks and data collection risks. Due to the wide distribution of power data sources, companies in various cities and cities scattered to complete the data collection and upload work, hence repeated data collection and data formats occurred from time to time. In conclusion, the article proposes a blockchain-based digital asset management framework for power companies to address security issues in traditional digital asset management. The framework optimizes security authentication mechanisms, data recording and consensus processes, and data storage and transmission strategies to ensure the security, integrity, operability, and consistency of digital assets in the management process. The proposed framework provides a solution for identity mutual trust, transmission and storage, data collection, and data use in digital asset management.

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DIGITAL ASSET MANAGEMENT (ARTICLES FROM SCOPUS ONLINE DATABASE) Article 2: Digital Asset in the System of Real Estate Management The article discusses the importance of digital asset management (DAM) in real estate management and the role of building information modeling (BIM) in achieving this. The authors argue that the integration and convergence of various IT solutions are necessary to achieve the greatest value of a digital asset. They also highlight the slow acceptance of innovation in the construction and real estate industry compared to the manufacturing world. The article presents a preliminary analysis of a digital asset as an inseparable part of real estate management. The authors developed a prototype of the BAM web service for managing a digital asset, which was tested on a real object and a model created by laser scanning. The sources analysis showed that there are a number of BIM applications in building operations and lifecycle management. The authors argue that the development of the market for information modeling technology in construction means the emergence of an institutional arrangement for buyers and sellers to deliver information about relative prices, conditions of supply and demand.

The authors also discuss the importance of stakeholder identification and market analysis of available commercial products in the implementation of a digital asset management system. They argue that the concept of digital "asset management" is more common in the literature, which can often be read in two ways in English (Digital Asset Management). Further research involves an ontological analysis of similarities and differences, and most importantly the object of management in the cases of digital "asset management" and "digital asset" management.

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The article also highlights the role of BIM in space management, planning and feasibility studies for non-capital construction, and prevention of collisions at the design stage. The authors argue that efficient space management can increase the productivity of staff working on site, and the advantages of BIM are similar to the design and construction stages during reconstruction and non-capital construction. The authors conclude that the development of DAM in the construction and real estate industry requires the integration and convergence of various IT solutions, stakeholder identification, and market analysis of available commercial products. They argue that the slow acceptance of innovation in the construction and real estate industry compared to the manufacturing world can be overcome by exploiting the progress achieved by early adopters in other sectors and solving problems and bugs in specialized forums for restricted environments.

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DIGITAL ASSET MANAGEMENT IN BUSINESS (CASE STUDIES FROM ANY INFORMATION SOURCES) Case Study 1: Digital Asset Management Tool for Film Animation and Game Development Business: Film Animation and Game Development

The case study titled "Digital Asset Management Tool for Film Animation and Game Development" discusses the use of digital asset management (DAM) in the film animation and game development industry. The case study was written by Ling C., Gang H., and Yaner L. and published in Computer-Aided Design & Applications in 2023. The purpose of the case study is to explore the use of DAM in the film animation and game development industry and to provide a tool for managing digital assets in these industries. The case study was published in 2023. I will use the 4W1H framework to summarize the key findings of the report.

What: The study discusses the use of digital asset management (DAM) in the film animation and game development industry. The study also explains that DAM is a system for organizing, storing, and retrieving digital assets such as images, videos, and audio files and discusses the advantages of using DAM in the film animation and game development industry, including improved efficiency, reduced costs, and increased collaboration.

Who: This study is written by Ling C., Gang H., and Yaner L. The authors are affiliated with various universities in China and have expertise in computer science, information engineering, and digital asset management.

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Why: The study discusses the importance of DAM in the film animation and game development industry. The study explains that the use of digital assets is becoming increasingly important in these industries, and that DAM can help to manage these assets more efficiently. The study also discusses the advantages of using DAM in these industries, including improved efficiency, reduced costs, and increased collaboration. When: The study was published in 2023 and does not discuss a specific time frame for the use of DAM in the film animation and game development industry. How: The study discusses the implementation of a digital asset management tool for film animation and game development. The tool is designed to help manage digital assets more efficiently and to improve collaboration between different teams working on a project. The study also discusses the features of the tool, including the ability to organize assets by project, the ability to search for assets using keywords, and the ability to track changes to assets over time. Overall, the document provides useful insights into the use of digital asset management and computer-aided design in the film animation and game development industry. The information provided in the article can be beneficial for professionals working in these industries, as well as students and researchers interested in these fields.

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DIGITAL ASSET MANAGEMENT IN BUSINESS (CASE STUDIES FROM ANY INFORMATION SOURCES) Case Study 2: Proposing A New Digital Asset Management Systems For Glacier National Park Business: Glacier National Park

The study provided is a report on the research conducted by a team from Worcester Polytechnic Institute (WPI) to identify, evaluate, and propose a new Digital Asset Management (DAM) software system for Glacier National Park (GLAC). The report is divided into several subsections, each providing information on different aspects of the research. In this analysis, I will use the 4W1H framework to summarize the key findings of the report.

What: The report is about the research conducted by a team from WPI to identify, evaluate, and propose a new Digital Asset Management (DAM) software system for Glacier National Park (GLAC). It provides information on the criteria used to evaluate potential DAM software systems, the methods used to identify and evaluate potential systems, and the recommendations made by the team for the implementation of the new DAM software system.

Who: The research was conducted by a team from Worcester Polytechnic Institute (WPI) comprising of students and faculty members. The team worked closely with the project sponsor, Jean Tabbert, Glacier National Park’s Museum Curator, as well as with Worcester Polytechnic Institute’s access archivist, Amy Smid, digital repository and metadata librarian, Emily O’Brien, Librarian, Anna Gold, and assistant director of archives, Arthur Carlson.

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Why: The research was conducted to identify, evaluate, and propose a new Digital Asset Management (DAM) software system for Glacier National Park (GLAC) that accommodates their needs. The goal was to enable GLAC to make an informed funding request for the new system going forward. The report highlights the importance of DAM systems in preserving and providing access to fragile assets of cultures, history, lands, and organizations. When: The research was conducted over a period of time that is not specified in the report. However, the report provides information on the methods used to identify and evaluate potential DAM software systems, the criteria used to evaluate the systems, and the recommendations made by the team for the implementation of the new DAM software system. How: The team used a variety of methods to identify and evaluate potential DAM software systems. They conducted online searches and interviews to identify the essential criteria for GLAC’s new DAM system. They also evaluated potential DAM software systems based on six criteria for the Park, which were organized in a table that allowed them to easily compare the different systems. Overall, the report provides valuable insights into the process of identifying and evaluating DAM software systems and offers recommendations organizations looking to implement a new DAM system.

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for

DIGITAL ASSET MANAGEMENT JOB DESCRIPTIONS AND REQUIREMENTS (FROM JOBS VACANCY WEBSITE) Digital Asset Management Specialist OSRAM (M) Sdn Bhd. – GBS Division

Job Description Download (self-service) -> guideline + support* Upload of assets including filling in the relevant meta data* Support with copyright management Check and approve uploads* Manage the asset archive User Management (admin role) Technical support Training - Continuous training of employees around media asset topics (on-boarding) Job Requirements Candidate must possess at least a Bachelor's Degree, Post Graduate Diploma, Professional Degree in Marketing, Administration, Communication or equivalent. Structured, accurate, and team-oriented way of working. Ability to work independently. Organization savvy/ digital media knowledge Attention to detail and ability to multitask and manage multiple projects Good Interpersonal & communication in English and Mandarin. Fresh graduates are encouraged to apply. This position is located at Georgetown, Penang

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DIGITAL ASSET MANAGEMENT JOB DESCRIPTIONS AND REQUIREMENTS (FROM JOBS VACANCY WEBSITE) Assistant Manager, Digital Development - Prudential

Job Description Handle Agency Digital Business Projects and cultivate learning experience and value propositions to grow Agency force. Analyze and report Agencies’ digital performance. Drive digital assets’ adoption, usage and monthly active users strategically. Knowledge sharing with Agencies and relevant stakeholders on new features and subsequent digital improvements. Collaborate across different stakeholders for Project requirements and execution. Job Requirements A Bachelor’s degree in a relevant field. Minimum 3 years working experience. Possess critical thinking & analytical skills. Proficient in Microsoft Excel, PowerPoint, Words etc. Strong communication and presentation skills. Familiar with digital marketing and active in social media. Willing to travel within Malaysia for cross regional digital workshops & agency support.

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DIGITAL ASSET MANAGEMENT ISSUES AND CHALLENGES IN MALAYSIA 1. Data Privacy & Security

Managing digital assets in Malaysia has become increasingly challenging due to the issue of data privacy and security. With the rise of cyber threats, data breaches, and cyber-attacks, companies in Malaysia are facing significant challenges in protecting their digital assets. The following are some of the key issues and challenges that companies are facing when managing digital assets in Malaysia, along with relevant examples. Cybersecurity threats One of the major challenges faced by companies in Malaysia is the increasing number of cybersecurity threats. Cyber threats such as hacking, malware, phishing, and ransomware attacks are becoming more sophisticated, and companies need to be prepared to defend against them. For instance, based on the statistics from Cyber Security Malaysia (CSM) Malaysia reported 4,741 cases of cyber threats last year, while this year, 456 fraud cases were recorded as of February 2023.One of the most significant cybersecurity threats faced by Malaysian companies is ransomware attacks, which can cause significant financial and reputational damage.

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Lack of adequate security measure Another challenge faced by companies in Malaysia is the lack of adequate security measures to protect their digital assets. Many companies in Malaysia do not have a comprehensive cybersecurity strategy in place, and some do not even have basic security measures, such as firewalls and antivirus software. According to the Malaysia Cyber Security Strategy 2020-2024 report, the country may face economic losses of up to RM51 billion due to cyberthreats.In such a vulnerable environment, curated detection and response tools, strategic plans and cybersecurity awareness initiatives are needed to prevent this from happening. Lack of awareness A lack of awareness and understanding of the importance of data privacy and security is another significant challenge faced by companies in Malaysia. Many companies do not prioritize data privacy and security, and some even consider it to be a secondary concern. This lack of awareness and understanding can lead to companies neglecting to implement security measures or failing to address security breaches promptly. In conclusion, managing digital assets in Malaysia is becoming increasingly challenging due to the issue of data privacy and security. Companies in Malaysia need to prioritize cybersecurity and implement comprehensive security measures to protect their digital assets. Additionally, they need to educate their employees about the importance of data privacy and security and provide them with the necessary training to identify and respond to cybersecurity threats. Failure to address these challenges can lead to significant financial and reputational damage for companies in Malaysia.

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DIGITAL ASSET MANAGEMENT ISSUES AND CHALLENGES IN MALAYSIA 2. Lack of Skilled Resources

Another issue and challenge on managing digital asset in Malaysia is lack of skilled resources. With the rapid growth of digital technologies, the demand for skilled professionals in digital asset management (DAM) is increasing, but there is a shortage of talent with the right skills and expertise. The following are some of the key issues and challenges that companies and government institutions in Malaysia are facing when managing digital assets, along with relevant examples. Insufficient talent pool One of the major challenges faced by companies in Malaysia is the insufficient talent pool of skilled professionals in DAM. Companies require individuals with a wide range of skills, including data management, digital asset management, metadata management, and content creation. However, there is a shortage of individuals with the necessary skills and expertise in these areas. For example, Malaysia needs to create 2 million high-skilled jobs in order to achieve 35% high-skilled workforce by 2030. This means Malaysia faces a shortage of skilled professionals in various fields including digital transformation, data analytics, and artificial intelligence, leading to a skills gap in the country.

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High Demand for Skilled Professionals Another challenge faced by companies in Malaysia is the high demand for skilled DAM professionals. As companies increasingly shift towards digital technologies, the demand for skilled DAM professionals is growing. However, the supply of skilled professionals is not keeping up with the demand, leading to a skills shortage in the industry. According the EduSpiral article, they discuss job demand and salary trends in Malaysia for various industries, including computing and data science. The results indicate that there is a high demand for skilled professionals in computing and data analytics industries in Malaysia, which could potentially include the field of digital asset management. Lack of Skilled Resources in Goverment Institutions The lack of skilled resources is not just limited to the private sector; government institutions in Malaysia are also facing a shortage of skilled professionals in DAM. Government institutions require skilled professionals to manage their digital assets, including data, records, and information systems. However, many government institutions in Malaysia lack the necessary skills and expertise to manage their digital assets effectively. For example many government agencies in Malaysia had failed to comply with the minimum standards for information security management. In conclusion, the shortage of skilled resources is a significant challenge faced by companies and government institutions in Malaysia when managing their digital assets. The lack of skilled professionals with the necessary skills and expertise in DAM can hinder the effective management of digital assets, leading to security breaches, data loss, and other issues. To address this challenge, companies and government institutions in Malaysia need to invest in developing the skills and expertise of their employees, providing training, and creating a culture of continuous learning and development. Additionally, industry associations and academic institutions can play a vital role in developing the talent pool of skilled professionals in DAM.

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DIGITAL ASSET MANAGEMENT SUCCESS KEY ELEMENTS 1. Understanding user need

Digital Asset Management (DAM) has become increasingly important for companies in Malaysia to manage their digital assets effectively. A successful DAM system can improve workflow efficiencies, reduce costs, and improve collaboration among team members. The key elements for the success of a DAM system in Malaysia is understanding user need. A successful DAM system must be designed with users' needs in mind to ensure that the system is efficient and easy to use.

Usability One of the critical elements for the success of a DAM system is usability. Usability refers to the ease with which users can interact with the DAM system. It is essential to understand the needs of the users and design the DAM system accordingly. Companies should define their users, define the system, and involve people in the design process to ensure that the system meets their requirements.

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User experience A positive user experience is crucial for the success of a DAM system as it can impact user adoption, collaboration, and overall productivity. A user-friendly interface, fast search capabilities, and easy access to assets are some of the key factors that contribute to a positive user experience. Companies should consider the user experience when designing their DAM system and ensure that it is intuitive and easy to use. For example, Petronas, a Malaysian oil and gas company, implemented a DAM system to manage its digital assets. Petronas focused on improving the user experience by providing a user-friendly interface, fast search capabilities, and easy access to assets. As a result, Petronas saw an increase in productivity and collaboration among team members.

In conclusion, understanding user needs is a critical element for the success of a DAM system in Malaysia. Companies must design a system that is easy to use and navigate, visually appealing, and intuitive. Providing comprehensive training and support to users is also crucial to ensure that they are comfortable using the system and understand its features. By focusing on user needs, companies in Malaysia can effectively manage their digital assets and improve their workflow efficiencies.

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DIGITAL ASSET MANAGEMENT SUCCESS KEY ELEMENTS 2. Metadata Management

Another the key elements for the success of a DAM Malaysia is metadata management. Effective management ensures that digital assets are classified, and organized in a consistent and standard manner, easier for users to search, locate, and use them.

system in metadata described, making it

Consistency Consistency in metadata management is crucial to ensure that all digital assets are classified and described in the same way. This consistency makes it easier for users to search and locate digital assets. A DAM system with inconsistent metadata can lead to confusion and difficulties in locating and using digital assets. For example, Malaysian company should implemented a DAM system with a consistent metadata structure, enabling users to easily search and locate digital assets, resulting in improved workflow efficiencies and faster access to information.

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Standardization Standardizing metadata is another critical element for the success of a DAM system. Standardizing metadata ensures that metadata is consistent across the organization and can be easily shared between different departments or systems. Companies should establish standard metadata fields and definitions that are used across the organization to ensure that metadata is consistent. For example, a Malaysian company need to implement a DAM system with standardized metadata fields and definitions. Therefore, the company will improve in collaboration among team members and faster asset retrieval times.

In conclusion, effective metadata management is a critical element for the success of a DAM system in Malaysia. A consistent metadata structure ensures that all digital assets are classified and described in the same way, making it easier for users to search and locate digital assets. Standardizing metadata ensures that metadata is consistent across the organization and can be easily shared between different departments or systems. By focusing on metadata management, companies in Malaysia can effectively manage their digital assets and improve their workflow efficiencies.

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CONCLUSION In conclusion, this eBook and individual assignment tasks have provided valuable insights into the importance of Digital Asset Management in Malaysia. The rapid growth of digital technologies has made DAM a necessity for many businesses, but there is a shortage of talent with the right skills and expertise. Companies and government institutions in Malaysia are facing various challenges when managing digital assets, such as security concerns and lack of standardization. However, successful DAM implementations can lead to streamlined workflows, reduced costs, and increased efficiency. To achieve DAM success in Malaysia, it is essential to focus on key elements such as understanding user need and have effective metadata management. These elements can be implemented in practice by adopting best practices from successful DAM implementations worldwide and tailoring them to the local context. Overall, continued research and development in the field of digital asset management are crucial to address the evolving needs of businesses and industries in Malaysia. By embracing DAM as a strategic component of their operations, organizations can unlock new opportunities for growth and innovation while mitigating risks associated with managing digital assets.

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APPENDICES

Figure 1: Cover page of article 1 Blockchain-based Power Digital Asset Security Management Framework

APPENDICES

Figure 2: Cover page of article 2 Digital Asset in the System of Real Estate Management

APPENDICES

Figure 3: Cover page of case study 1 Digital Asset Tool for Film Animation and Game Development

APPENDICES

Figure 4: Cover page of case study 2 Proposing a New Digital Asset Management System for Glacier National Park

APPENDICES

Figure 5: Result similarity of Ouriginal

DIGITAL ASSET MANAGEMENT

(DAM) STUDIES

NUR IZZAH INSYIRAH BINTI MOHD YUSOF