A data monetization strategy is an executable plan for extracting “value” from data and converting it into revenue-generating opportunities. It involves analyzing and leveraging data to uncover insights that can be used to drive business growth, enhance customer experiences, and create new revenue streams. Organizations collect large volumes of raw data from various sources such […]
Building Trust in the Digital Age: The Role of Data Verification
Data has famously been referred to as the “new oil,” powering the fifth industrial revolution. As our reliance on data-intensive sectors like finance, healthcare, and the Internet of Things (IoT) grows, the question of trust becomes paramount. Trust is a multifaceted issue when dealing with data and events, and one core component is data verification. […]
Data Activation: The Key to Taking Data Reports to the Next Level
Let’s talk about an inconvenient truth: For the typical business, data reporting has a tendency to fall short of producing the desired outcomes. Despite the significant resources that organizations often invest in producing data reports – and in the data collection, governance, and analytics processes that happen prior to reporting – the people who actually […]
Four Ways SMBs Can Maximize the Value of Data
Businesses of all sizes are collecting more data, continuously, than ever before. But many – particularly small and medium-sized businesses (SMBs) – have trouble understanding where their data sits, how to connect and act on it, how to manage it, and, most importantly, how to drive value from it. While there’s been a huge surge […]
Maximizing IT Investments and Enhancing End-User Experience with Data
In an age defined by data-driven decision-making, where 91.9% of organizations have already leveraged analytics to enhance their operations, a question remains: What if there were even more sources of untapped data, capable of helping businesses increase the quality of the end-user experience and elevating the functionality of systems, applications, and cloud investments within their business? This is […]
Why a Data Diet Can Drive Better Results for Marketers
Advertising has a data problem. Outwardly, marketers enthuse about their ability to target consumers with precision, harnessing a wealth of data to drive them through the sales funnel and towards purchase. With every customer interaction, every ad impression, every dollar of ad spend being collated and turned into a data point, the insights available should […]
Quantifying the Value of Data to Business Leaders
When you hear the phrase “data monetization,” you might think of selling data to a third party – along with the many ethical and privacy issues that go with it. While this practice plays a significant role in our modern economy, there is another type of data monetization that receives less buzz but is equally […]
Decision Products Are the New Data Paradigm
“We have data – why can’t we use it?” To answer that question, I would say, “What do you want to do with your data?” Lately, whomever I talk to answers with a general desire for their data – to gain insights or to make data-driven decisions – and then they launch into an explanation of the […]
4 Ways to Monetize Data and Improve Your Revenue Model
Every organization I know of wants to treat its data as an asset. But they lack the imagination of what that means. It can be interpreted as having robust Data Governance. Or it could mean improving Data Literacy across the organization. We are collecting and storing zettabytes of data. But we are also failing at organizing […]
Data Leadership: The Key to Data Value
Data and business have become inseparable, so if your business isn’t using data effectively, you’re in trouble. Yet using it effectively can be a struggle. Not knowing how to find the right data, not trusting the available data, and not having confidence in the tools and people providing that data can lead people to conclude […]