What is Data Monetization?

Sunil Soares
CEO, Information Asset

Data Governance programs have lacked business adoption because there is often a limited tie-in with financial benefits. Let’s face it, if the regulators are not breathing down your neck, it is hard to get senior management to continue to sponsor data governance.

I have been doing some recent work with several of my colleagues including Pam Taylor and Mark Gallman on Data Monetization. We define Data Monetization as follows:

Data Monetization leverages data and information to expose opportunities to increase revenues, reduce costs and drive competitive advantage while mitigating risk.

Here are some use cases for Data Monetization:

  • Grow Revenues – A retailer improves cross-sell and up-sell opportunities based on a single view of the household
  • Reduce Costs – A manufacturer improves the quality of billing addresses to reduce Accounts Receivable and Working Capital
  • Manage Risk – A bank reduces credit risk by establishing a unified view of counterparty risk across affiliates and subsidiaries

Data Monetization is a cross-functional discipline that draws from best practices in Data Management, Technology, Law and Finance.

Our newly-released YourDataConnectTM platform helps organizations build a quantitative view of the financial benefits from Data Monetization. For more information, please visit yourdataconnect.com.

Share on facebook
Share on twitter
Share on linkedin

Let us know how we can help you.

Looking for a new career?

We use cookies to ensure we give you the best experience on our website. If you continue to use this site, we will assume you consent to our privacy policy.