ranjan

The economic value of data for companies is challenging to conceptualize and measure directly. Companies can monetize by improving customer experiences, reducing costs, finding new customers and so much more from the data that is produced directly or indirectly using big data analytics and AI. Many B2B  businesses understand that data monetization using AI and data analytics can create higher returns on investment and streamlined operations.    The potential for data to deliver value for many parts of the business is enormous. For Data monetization, following five rules are necessary to follow: 1. Understand the role and value of Data in business - Good data management is about making sure you have the proper data to support your business and improve performance. Often companies fail to accurately value their data because it is not strictly accounted for as an asset even though it has real worth in external markets. 2. Get Data house in order - Before thinking about monetizing data, co