Monetizing Data - It's More Than What You Think

Terri White's picture
 By | March 30, 2015
in Advanced Analytics, Business Analytics, Business Intelligence, Business Intelligence, data management
March 30, 2015

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.

Our customers are leading the way with tons of innovative applications for monetizing data. They are creating customer-facing analytic applications, operationalizing insights with InfoApps, pinpointing cost savings, and bringing new products to market. All of these examples are making an impact on the bottom line – self-service analytics is the new competitive advantage.

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!”

If you’re stuck at the office like me, but hungry to learn more, here’s a white paper: Data Monetization Strategies: How to Make Money and Save Money With Data and Analytics.

And if you want to have lunch and learn more best practices for data monetization, come see us on the road at one of these executive seminars: Data Monetization Strategies: New Ways to Profit from Data and Analytics.