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Data Monetization strategy in Business  - conclusion

Data Monetization strategy in Business  




Data monetization is all about selling the data which in turn is about revealing certain characteristics .It depends on how individual company approaches the concept to the data monetization no matter the company or their individual approach.An organization can play only one role in data monetization. It can either be a consumer of the data, an aggregator of the data or the creator of the new data. By understanding which role fits the organization best, one will be able to find the ways to monetize the data.

Finally,Every company will approach data monetization differently, but gathering a variety of ideas from academia, tech analysts, and leading practitioners. Data monetization can be about selling data. Most of the time, monetization is less direct: making a process run more efficiently, incentivizing certain types of behavior, or revealing the true value of an asset.

It is increasingly becoming a significant  for business activity for most companies. While less then 10% of Fortune 1000 companies have a data monetization strategy today, it is projected that 30% of businesses will monetize their data and information assets by 2016 (Gartner). As big data management consultants and data scientists, working with lines of business, begin to address these drivers, we should expect to see one or more of these venues fundamentally change the we monetize our businesses.

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http://naomianalytics.blogspot.com/

Comments

  1. UnknownMay 30, 2017 at 9:19 AM

    Data monetization strategies raise concerns about confidentiality and intellectual property.It would be great to learn about this.

    ReplyDelete
  2. UnknownMay 30, 2017 at 12:23 PM

    Big companies always top the data monetizing techniques most effectively

    ReplyDelete

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