What is data monetization?

Data monetization refers to the process of creating value and generating revenue from data assets. With the increasing amounts of data being collected and stored by organizations, data monetization has become a valuable strategy in various industries. It involves transforming raw data into actionable insights or valuable products and services that can be sold or used to drive business growth. This can be achieved through techniques such as data analysis, data packaging, and data sharing with external partners or customers. By effectively monetizing data, companies can not only generate additional revenue streams but also improve decision-making, enhance customer experiences, and gain a competitive edge in the market.

This mind map was published on 5 December 2023 and has been viewed 38 times.