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    Data Monetization: A Definition

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    Neeraj Singh
    The document discusses different methods for data monetization. It defines data monetization as using data to raise revenue and notes the most successful companies adopt this strategy. Direct data monetization involves selling raw or analyzed data directly to third parties, such as contact lists or industry insights. Good data monetization maximizes value by increasing profits, lowering costs, and enhancing opportunities through improved data use, decision-making, customer knowledge, and relationships. The document then outlines four methods for data monetization: data as a service, insight as a service, analytics-enabled platform as a service, and embedded analytics.

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    Data Monetization: A Definition

    Uploaded by

    Neeraj Singh
    68 views3 pages
    The document discusses different methods for data monetization. It defines data monetization as using data to raise revenue and notes the most successful companies adopt this strategy. Direct data monetization involves selling raw or analyzed data directly to third parties, such as contact lists or industry insights. Good data monetization maximizes value by increasing profits, lowering costs, and enhancing opportunities through improved data use, decision-making, customer knowledge, and relationships. The document then outlines four methods for data monetization: data as a service, insight as a service, analytics-enabled platform as a service, and embedded analytics.

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    The document discusses different methods for data monetization. It defines data monetization as using data to raise revenue and notes the most successful companies adopt this strategy. Direct data monetization involves selling raw or analyzed data directly to third parties, such as contact lists or industry insights. Good data monetization maximizes value by increasing profits, lowering costs, and enhancing opportunities through improved data use, decision-making, customer knowledge, and relationships. The document then outlines four methods for data monetization: data as a service, insight as a service, analytics-enabled platform as a service, and embedded analytics.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    68 views3 pages

    Data Monetization: A Definition

    Uploaded by

    Neeraj Singh
    The document discusses different methods for data monetization. It defines data monetization as using data to raise revenue and notes the most successful companies adopt this strategy. Direct data monetization involves selling raw or analyzed data directly to third parties, such as contact lists or industry insights. Good data monetization maximizes value by increasing profits, lowering costs, and enhancing opportunities through improved data use, decision-making, customer knowledge, and relationships. The document then outlines four methods for data monetization: data as a service, insight as a service, analytics-enabled platform as a service, and embedded analytics.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Data Monetization: A Definition

    Data monetization is the process of using data to raise revenue. The highest-
    functioning and fastest-growing companies have adopted data monetization
    and made it a vital part of their strategy.

    Direct data monetization includes selling direct access to your data to third
    parties. You can advertise it in raw form, or you can sell it in a form that’s
    already transformed into analysis and insights. Typical cases may be contact
    lists of potential business prospects or findings that impact on buyers’
    industries and businesses.

    Good data monetization guarantees that you get the most value from your
    data by increasing profits, lowering costs, and enhancing opportunities for
    your organization, your businesses and your partners. Data monetization:

     Improves use of data


     Extracts more, and better visions for you, your customers and partners.
     Streamlines decision-making and development.
     Improves data sharing and cooperation between internal and external
    shareholders.
     Strengthens alliances.
     Improves operational productivity and proficiency.
     Reduces operating expenditures.
     Improves knowledge of customers
     Improves customer involvement.
     Strengthens customer trustworthiness.
     Enhances vision into how best to improve outcomes.
    Data Monetization Methods
     As your business grows, you need to choose which monetization attitude fits
    best with your bigger data strategy. It’s thus important to think about the main
    methods, determine which of them are most suited to your present and future
    requirements, and which BI and analytics platform can offer you with the data
    monetization tools that are correct for your needs.

    Data as a service
    This is the plainest, most direct data monetization method. Data is traded
    directly to clients or arbitrates. The data is either raw, combined, or
    anonymized and the customers mine the data for insights. Buyers don’t
    benefit from receiving visions — they derive those for themselves. Nor do they
    profit from advanced analytics.

    Insight as a service
    This involves merging internal and peripheral data sources and applying
    analytics to provide insights. Either the insights can be marketed precisely or
    offered in layouts such as analytics-enabled apps that provide updated data.
    The insights are reduced to specific datasets or settings that the buyer has
    purchased.

    Analytics-enabled platform as a service


    This is a more adaptable type of data monetization that gives much more
    value to businesses. Analytics and BI platform is installed and implemented to
    provide customers with highly versatile, accessible data analytics in real-time.

    Embedded analytics
    This is the most sophisticated and exciting way of monetizing data that
    provides the most value to customers. Merely put, embedded analytics means
    adding qualities normally associated with BI software – such as dashboard
    coverage, data visualization, and analytics tools – to existing applications.
    References : https://thenextweb.com/tq/2019/09/13/its-possible-to-monetize-
    data-while-respecting-consumer-privacy-heres-how/

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