A Guide to Monetizing Data

This 2017 report, from the Eckerson Group, uncovers the keys of data monetization, and provides the required steps, so that businesses can start using their data assets as a new revenue stream. Specifically, how businesses can create data-driven products and services that generate revenue, reduce costs, cement customer loyalty, and deliver a competitive edge.

Use this guide to learn about the infrastructure and processes companies need to succeed with monetizing their data using the following three approaches:

  1. Deliver data analytics internally to employees so they can make better decisions, optimize processes, and reduce costs
  2. Enrich existing products with data analytics, improving customer retention and preserving market share
  3. Sell data products and services to customers, generating new product lines and revenue.

 

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