Data monetization is the process of an organization taking the data that it collects from its customers subscriptions, interactions and organizing that data into worthy services and solutions for themselves or third parties to use and buy to create new data oriented revenue streams
What is the data that holds value? What’s your data worth? To whom? How to capitalize on it? Data Science - How to understand which data to use/combine to get business value insights?
The value data can hold depends mostly on the importance that data has for whoever needs it. The frequency and amount of data generated, as well as the complexity and detail, can also help define the value of the data. Plus, the exclusivity and the usability makes data value rise up also.
By using Singularity Digital Enterprise Data Monetization Strategy we can identify, gather and combine data so that it holds the intended value for your business challenges.
Detailed data strategy allowing to have different kinds of data and purposes, both to sell/trade to partners and to upgrade and develop new business models
Some companies are already monetizing on their data in different ways, like adding new services to existing offerings, developing entirely new business models or partnering with other companies in related industries to create pools of shared data.
Singularity Digital Enterprise can help you identify, discover and combine data you already have and transform it into a valuable asset that will help you understand, predict and react to market changes, customer preferences, expectations and behaviors… making your important business decisions more meaningful and profitable.