Generating measurable economic benefits from available data sources, most commonly analytics, can result in some positive results.
Data monetization leverages data generated through business operations, available external data or content, as well as data associated with individual providers, such as that which is collected via electronic devices and sensors participating in the Internet of Things (IoT).
Harnessing the power of data-driven insights continues to top the wish list for many professionals and leaders seeking to build a competitive advantage.
There are those that assume marketing is the believer in the profit from data, but marketers aren’t alone in recognizing the value of data. If data is the most significant untapped global asset, then it’s no wonder brands today are increasingly seeking ways to monetize this ever-expanding asset. The objective may be clear, but the path to get there? Not so much.
Melody K. Smith
Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.