Data Monetization
Use Cases, Implementation, and Added Value
The core of data monetization is data products (i.e., products that are based on raw, refined or analyzed data). Data products can take many forms, including consumable data sets, analysis results and operational applications that contain analysis results. These can come as reports, extensions to existing products, digital platforms or can be incorporated into new business models.

Data monetization includes both internal and external opportunities. Internal data monetization aims to improve internal processes such as marketing and customer experience or the maintenance of equipment. On the other hand, external data monetization involves the use of data to extend an organization’s product offering with data, data-driven services or business models to create new revenue streams.

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DataSpark Analytics Pty Ltd