There is revenue potential offered by data monetization for those who are able to identify it and willing to capitalize on it. This is particularly true in the publishing industry, where some companies are already achieving incremental success by leveraging existing data about their consumers to generate new revenue streams. This interesting information came to us from eContent in their article, “How to Capitalize on Data Monetization in the Publishing Industry.”
There are important decisions to be made in establishing the right approach and the right strategy before moving forward. An organization needs to consider how to synergize data trends emerging around both their existing base of consumers and a target demographic that may present new revenue opportunities. Defining a vision can be a challenge because the industry is evolving so rapidly that companies can’t keep pace with what the possibilities are.
Data monetization is occurring not only in the publishing industry, but also across other industries, and it is driven by the demand of the consumer/enterprise for an enhanced experience.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.