Organizations are monetizing their data assets by identifying new revenue streams or finding cost-savings – and operating more competitively as a result.
Information is capital. How do you maximize its value?
Data monetization is the process of unlocking the significant financial value held by the data in your enterprise systems. While the potential to monetize data has always existed, the proliferation of big data from new sources such as mobile, social media, and the cloud presents new opportunities to make information an integral part of your organization’s value proposition.
Monetization’s not just about generating new revenue, either; you can use data to save money and cut costs.
If you have high-value information, you can sell it, or charge a fee for the ability to access and analyze it. You can empower stakeholders to tap into information to generate more income or increase profitability by, for example, identifying up-sell or cross-sell opportunities or finding ways to reduce customer attrition. Or, you can dig deep into data to uncover processes or operations where hard-dollar cost savings can be achieved, either through increased efficiency or reduced waste.
We’re in Vegas at the Gartner BI and Analytics and Enterprise Information Management shows this week – and we’ll be demoing our solutions for business intelligence and analytics, data integration and at integrity, and their unique capabilities to monetize data.
If you’re at the show, stop by booth 409 and say “Hey!”
Information Bloggers is a conversation between people at the nexus of business analytics, mobile apps, cloud computing, social media, and big data. Together we are developing information management strategies that change behavior and transform business. Many of us work for Information Builders and, as such, are passionate about customer satisfaction and dedicated to excellence. Our views are our own. Welcome to the discussion!