“We are moving slowly into an era where big data is the starting point, not the end.” – Pearl Zhu.
The big data market will grow by 20% in 2020. And every human is expected to generate around 1.7 megabytes of data every second. And the big data and analytics market would be worth nearly $103 billion by 2023.
That is the power of data! Data is changing the face of the digital world by creating oceans of data from which brands can make better business decisions and attain real business values.
But do you know, apart from deriving valuable insights from your data and you could also unlock a stream of revenues?
There’s something called data monetization, which can help you transform your data into new revenue streams.
So, what is data monetization?
Data monetization is a popular form of monetization, which acts as a catalyst to generate economic benefits for a brand or entity from their available data sources.
And how data monetization can help you?
- It optimizes the use of your data
- It extracts better insights
- It streamlines your planning and decision making and many more
Have a look at this infographics to know why data monetization is the need of the hour.