Data Monetisation: A revenue stream that’s easily overlooked
Companies are searching for successful business model innovation that will help protect their future, without jeopardising the here and now. The answer could be data monetisation - finding the hidden gems in their everyday operational, customer or market data.
Business leaders today are facing an innovation conundrum. On the one hand, they recognise the critical importance of business model innovation as a driver of long-term growth. They know that designing new ways to create, deliver and capture value are vital for maintaining customer relevance and long-term competitiveness.
But at the same time, the combination of inflation, a sluggish economy and market volatility is eroding margins and dulling their appetite for risk.
With traditional sources of growth under increasing strain, where should companies look next for innovation? The answer could be hidden in plain view. Many businesses overlook one of their most valuable untapped assets – namely, their own data. Most organisations are data-rich but value-poor because they haven’t yet recognised what data they have and who would pay for it.
Despite considerable progress in information capture and analysis – and the potential of AI as an accelerator – there is still a lingering sense of frustration around data monetisation. A third of global executives believe their companies’ data assets have unrealised potential. Most companies sit on significant unused data. In fact, according to Forrester, two-thirds of organisations say at least half of their data goes unused.
> RELATED ARTICLE: Diagnosing 4 common causes of business growth slowdown
Show me the money: how to spin data into gold
Business leaders today are facing an innovation conundrum. On the one hand, they recognise the critical importance of business model innovation as a driver of long-term growth. They know that designing new ways to create, deliver and capture value are vital for maintaining customer relevance and long-term competitiveness.
But at the same time, the combination of inflation, a sluggish economy and market volatility is eroding margins and dulling their appetite for risk.
With traditional sources of growth under increasing strain, where should companies look next for innovation? The answer could be hidden in plain view. Many businesses overlook one of their most valuable untapped assets – namely, their own data. Most organisations are data-rich but value-poor because they haven’t yet recognised what data they have and who would pay for it.
Despite considerable progress in information capture and analysis – and the potential of AI as an accelerator – there is still a lingering sense of frustration around data monetisation. A third of global executives believe their companies’ data assets have unrealised potential. Most companies sit on significant unused data. In fact, according to Forrester, two-thirds of organisations say at least half of their data goes unused.
> RELATED ARTICLE: Diagnosing 4 common causes of business growth slowdown
From by-product to the product itself
Business leaders today are facing an innovation conundrum. On the one hand, they recognise the critical importance of business model innovation as a driver of long-term growth. They know that designing new ways to create, deliver and capture value are vital for maintaining customer relevance and long-term competitiveness.
But at the same time, the combination of inflation, a sluggish economy and market volatility is eroding margins and dulling their appetite for risk.
With traditional sources of growth under increasing strain, where should companies look next for innovation? The answer could be hidden in plain view. Many businesses overlook one of their most valuable untapped assets – namely, their own data. Most organisations are data-rich but value-poor because they haven’t yet recognised what data they have and who would pay for it.
Despite considerable progress in information capture and analysis – and the potential of AI as an accelerator – there is still a lingering sense of frustration around data monetisation. A third of global executives believe their companies’ data assets have unrealised potential. Most companies sit on significant unused data. In fact, according to Forrester, two-thirds of organisations say at least half of their data goes unused.
> RELATED ARTICLE: Diagnosing 4 common causes of business growth slowdown
Here are 5 examples of data monetisation in action:
Business leaders today are facing an innovation conundrum. On the one hand, they recognise the critical importance of business model innovation as a driver of long-term growth. They know that designing new ways to create, deliver and capture value are vital for maintaining customer relevance and long-term competitiveness.
But at the same time, the combination of inflation, a sluggish economy and market volatility is eroding margins and dulling their appetite for risk.
With traditional sources of growth under increasing strain, where should companies look next for innovation? The answer could be hidden in plain view. Many businesses overlook one of their most valuable untapped assets – namely, their own data. Most organisations are data-rich but value-poor because they haven’t yet recognised what data they have and who would pay for it.
Despite considerable progress in information capture and analysis – and the potential of AI as an accelerator – there is still a lingering sense of frustration around data monetisation. A third of global executives believe their companies’ data assets have unrealised potential. Most companies sit on significant unused data. In fact, according to Forrester, two-thirds of organisations say at least half of their data goes unused.
> RELATED ARTICLE: Diagnosing 4 common causes of business growth slowdown
Data-as-a-Service or Direct Monetisation?
Business leaders today are facing an innovation conundrum. On the one hand, they recognise the critical importance of business model innovation as a driver of long-term growth. They know that designing new ways to create, deliver and capture value are vital for maintaining customer relevance and long-term competitiveness.
But at the same time, the combination of inflation, a sluggish economy and market volatility is eroding margins and dulling their appetite for risk.
With traditional sources of growth under increasing strain, where should companies look next for innovation? The answer could be hidden in plain view. Many businesses overlook one of their most valuable untapped assets – namely, their own data. Most organisations are data-rich but value-poor because they haven’t yet recognised what data they have and who would pay for it.
Despite considerable progress in information capture and analysis – and the potential of AI as an accelerator – there is still a lingering sense of frustration around data monetisation. A third of global executives believe their companies’ data assets have unrealised potential. Most companies sit on significant unused data. In fact, according to Forrester, two-thirds of organisations say at least half of their data goes unused.
> RELATED ARTICLE: Diagnosing 4 common causes of business growth slowdown
Three Reasons to Act Now
Business leaders today are facing an innovation conundrum. On the one hand, they recognise the critical importance of business model innovation as a driver of long-term growth. They know that designing new ways to create, deliver and capture value are vital for maintaining customer relevance and long-term competitiveness.
But at the same time, the combination of inflation, a sluggish economy and market volatility is eroding margins and dulling their appetite for risk.
With traditional sources of growth under increasing strain, where should companies look next for innovation? The answer could be hidden in plain view. Many businesses overlook one of their most valuable untapped assets – namely, their own data. Most organisations are data-rich but value-poor because they haven’t yet recognised what data they have and who would pay for it.
Despite considerable progress in information capture and analysis – and the potential of AI as an accelerator – there is still a lingering sense of frustration around data monetisation. A third of global executives believe their companies’ data assets have unrealised potential. Most companies sit on significant unused data. In fact, according to Forrester, two-thirds of organisations say at least half of their data goes unused.
> RELATED ARTICLE: Diagnosing 4 common causes of business growth slowdown
