Welcome to Part V of this article series on data monetization. (Here are Part I, Part II, Part III and Part IV for easy reference.)
Data monetization opportunities are determined by defining a problem to be solved in terms of focus and state. If the focus of the problem to be solved is external and the state is new, then the defined monetization opportunity is in creating new business models using data. Businesses that recognize they can create new products and services that reach existing and/or new customers based on data they own or acquire quickly realize that the information business requires a separate and distinct business model. The environment for information businesses to succeed must be agile and able to adapt quickly as change requirements emerge.
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