There is little argument that there is value in data. In fact, when asked, many executives would say their data is one of their organization’s most valuable assets. Yet, as we progress further in to the age of digitization many of those same executives are asking “How do we use data to drive revenue?” or “Where’s the money in data?” It is much easier to consider and treat data as a valuable asset than it is to monetize it and actually generate value from it.
Data monetization, the term used to describe a variety of approaches to turning data into dollars, is a whole new ball game when it comes to managing and using data. It demands different business processes, a unique blend of skills and capabilities, and sometimes even requires new operating models. There are a variety of considerations for businesses looking to launch monetization initiatives. This five-part series will introduce a framework to help you evaluate the most appropriate method of monetization for your organization.
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