Are you leaving a data monetisation opportunity on the table? Learn about present opportunities and challenges of data monetisation, see which industries and use cases are thriving, and review important considerations if you’re planning to monetise your data.
Additionally, learn how an embedded analytics business intelligence solution can help bring success to data monetisation efforts. Whether you’re creating new data products or delivering data as a service, a modern, white-label analytics solution may offer the capabilities you and your customers need to get the most value from your data.
- More and more, businesses are recognising the value of the data they are collecting. In our age of digital transformation, the revenue generated through data and analytics-based business models is becoming a key indicator of digital success.
- There are plenty of opportunities and use cases for monetising – from benchmarking and profiling customers to customise their experiences, to credit scoring, fraud detection, analysing purchasing and ordering processes, and more.
- Companies who monetise their data often see incredible benefits beyond additional revenue streams, including entirely new products, services or business models, and increased product engagement and customer loyalty.
- In spite of the rich opportunities, many organisations with valuable data have yet to monetise it. Some of the greatest barriers include data quality issues, data privacy and regulation challenges, and a lack of management support.
- Modern analytics platforms can provide many helpful capabilities for data monetisation, including data preparation, integration and deployment flexibility for faster time to market, and interactive visualisations that give users the ability to ask and answer their own questions.
- Embedding Tableau analytics into six BI products that contributed to a multi-million dollar revenue stream, one customer was able to reduce their prototyping and report building time by months, while increasing the customer engagement with their differentiated products.
Dive into our SlideShare to see more, including statistics from a Business Application Resource Center (BARC) data monetisation survey.