This confusion, as well as fear
Posted: Sun Feb 09, 2025 9:02 am
There is no doubt that data monetization is a worthy objective, and it is increasingly rare to find a company not pursuing this capability in some form. However, this pursuit can also be filled with pitfalls as regulators, private citizens, and politicians become increasingly focused on data privacy and how data is used. Even questions about who owns and controls data are becoming important.
Even more challenging, many people don’t fully turkey rcs data comprehend this topic and how advanced it has become, resulting in a great deal of misunderstanding and misinformation. of the unknown, creates barriers to developing truly valuable data-driven benefits. Such advantages include lofty goals like safer roads and life-saving drugs, as well as more basic benefits like an improved customer experience or the perfect Friday night movie recommendation.
For those already involved in executing a data monetization strategy (or those just starting out), there are some lessons worth sharing from our experience working with clients on this complex topic.
Here are five considerations when embarking on a data monetization strategy:
1. Align with overall business objectives: Whatever your monetization strategy, aligning with overall strategy and business objectives is crucial. This can be challenging, as data monetization by definition can lead to new products, value-added services, or entirely new lines of business – all of which can impact current strategy.
Even more challenging, many people don’t fully turkey rcs data comprehend this topic and how advanced it has become, resulting in a great deal of misunderstanding and misinformation. of the unknown, creates barriers to developing truly valuable data-driven benefits. Such advantages include lofty goals like safer roads and life-saving drugs, as well as more basic benefits like an improved customer experience or the perfect Friday night movie recommendation.
For those already involved in executing a data monetization strategy (or those just starting out), there are some lessons worth sharing from our experience working with clients on this complex topic.
Here are five considerations when embarking on a data monetization strategy:
1. Align with overall business objectives: Whatever your monetization strategy, aligning with overall strategy and business objectives is crucial. This can be challenging, as data monetization by definition can lead to new products, value-added services, or entirely new lines of business – all of which can impact current strategy.