Value-of-information (VOI) analysis is a powerful tool for short-term rationalization of data-acquisition costs. Even more, the longer-term added value of proper VOI analysis lies in the process of constructing the analysis and in the insight it gives into risk and opportunity management. A rigorous VOI analysis generally spans the full life cycle of E&P and, as such, requires input from a multidisciplinary team. A thorough examination of where data add value leads to value optimization and creation. To unlock this value, implementation of a rigorous, easy to-use method is critical. Such an implementation has progressed in Woodside and has already led to a shift in mind-set. VOI analyses are regarded not as cumbersome and fuzzy but increasingly as an essential part of data acquisition and data analysis. As a result, sizeable reductions in well-data-acquisition costs have been achieved and data acquisition and analysis has become more focused.