Data Related Concepts

Data Monetization

Data monetization is the act of using data from an organization to generate profits. The highest-performing and fastest-growing companies have adopted data monetization by either directly selling the data for cash or relying on that data to create value indirectly. Retail, automotive, music, healthcare, and marketing are said to be the top 5 industries that can benefit from data monetization. Gartner has predicted that by the end of 2024 about half of global heavy asset manufacturing companies will succeed in data monetization process.