Although precision livestock farming (PLF) technologies ensure various dimensions of more precise information, the question arises to what extent additional preciseness provides more value. Literature gives insufficient anchor points to estimate the value of information (VOI) obtained with PLF technologies. This study proposes a conceptual framework with building blocks to determine the VOI. Next, the framework is used to describe factors and existing gaps in the VOI assessment. This, finally, leads to reflections and recommendations about how to assess and improve the VOI of PLF. Literature reveals that the VOI surpasses the mere use of more precise information to take decisions, but encompasses a path from data collection to decisions with particular outcomes. The framework interlinks three building blocks: (i) data processing, (ii) decision making and (iii) impact analysis with factors influencing the VOI such as the process to transform data into information, level of precision, decision rules, social influences, the accuracy of information, herd size and prevalence of the condition measured. Besides profitability, outcomes from decisions include the impact on animal welfare, environment, food safety, and food security. The data-to-value framework allows for a better assessment of VOI and its potentials, and provides anchor points to design useful and valuable PLF technologies. The framework also helps to determine the role of advisors in interpreting the more precise information and in formulating farmer-tailored advice to apply the most optimal practices. Both technology design and advisors’ role may enhance the VOI of future PLF developments and applications.