Is Your Data Worth Its Weight in Helzberg?

Jake Freivald's picture
 By | May 29, 2015
in doug laney, gartner, monetizing data
May 29, 2015

A collection of 0.02, 0.03 and 0.04 carat solitaire diamonds weighing in total 5.36 carats. Licensed CC-BY via Wikimedia Commons.

Gartner believes it is. In yesterday’s blog post, analyst Doug Laney writes about the firm's new Data Strategy research team. Among the many things Doug and the rest of this team analyze for clients is "identifying dozens of ways to monetize their own information assets, and/or those that can be captured and collected externally." (You might have heard of his concept of "infonomics," which relates to the economic value of information.)

Some companies, like jeweler Helzberg Diamonds, are already ahead of the data monetization curve. Managers at 230 Helzberg stores examine point-of-sale and other data to drive greater revenue. Better measurement of performance across sales, campaigns, associates, and other variables helps these managers better anticipate market trends, while increasing size of the average sale.

Helzberg's not alone. Many other organizations have successful data monetization strategies in place. Check out how you too can use your enterprise data to make or save more money.