Data is value. Great data is revenue.
Today, market expectations have shifted to the point that providing data and analytics embedded as a part of an online service has become a must have.
As the volume and type of data grows, more and more are realizing the value of their data through monetization. By adding new analytics services to existing product offerings, proving the ROI to customers, and selling data-based products to partners, your organization may also be able to unlock new revenue streams.
A new generation of information users want data insights to be delivered with applications as embedded analytics, with customizable reports and dashboards that facilitate quick and easy interaction with the data.
In the case of HubSpot, customers are willing to pay for an enhanced level of analytics.
To achieve higher value, businesses must be able to extract trends and insights from the data that are not easily replicated or readily available from other sources. This means blending business and data expertise, in a clean and efficient way, as well as packaging it in an impactful user experience.
How to quantify your revenue potential? What data to focus on? How to develop its potential and how to price access? Are you selling data, or insights?
OccamLabs consultants are experts in answering these questions. We will help you navigate these new waters.
Average Total Cost of a Data breach: $3.86M
The Ponemon Institute.
What is your data worth?
Your data product can help you raise your eminence and add value to your brand. We can help you design revenue generating products from it.
Can your prospects, customers or partners benefit from your data?
Could your data provide a competitive edge? And to whom?
Can you sanitize and protect your data to make it a product?
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The Road To Data Monetization.
Leading firms derive up to 20%
of company revenues from
McKinsey, Fueling Growth Through Data Monetization Survey, 2017
Companies can monetize data in a format that is anonymized and aggregated for customers and partners to mine. For example, grocery retailer Kroger captures shopping data generated by its rewards card and sells the information on shopping habits to consumer packaged-goods companies.
How a company packages and monetizes the data depends on the customer use cases, unlocking the value found inside the massive volumes of data collected.
OccamLabs has the expertise to work with internal and external data sources, generating enriched, customized, real-time data by combining algorithms with predictive and prescriptive analysis.
Learn how data monetization can build new revenue streams for a business.
Recently there has been a change in the expectations of business users within the enterprise market, with information consumers wanting to do more with less effort.
The growing availability and access to data has created an unprecedented opportunity for businesses to radically improve their decision-making and customer focus.
White Paper: Data Monetization