Articles

Data Monetization is Enhancing the Revenue Generation of Organizations

October, 2019

We have been hearing about the phrase “Data is the New Fuel” for quite some time now. There has been great emphasis on extracting data that directly impacts the business revenue as it helps in identifying and marketing organizational data. Enterprises can now target new revenue sources by identifying several data patterns that directly or indirectly impact the business.

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The most common techniques used among enterprises include BI tools and integration. The organizations are typically focusing on creating new service lines, offerings, and improve customer retention. Data monetization deals with the enhancement of top-line as well as bottom-line growth.

The growing competition in the market is compelling enterprises to focus on data-driven initiatives to boost sales. Accenture, IBM, Google, Infosys, Tech Mahindra, Cisco, Gemalto, SAS, Virtusa, and Iconnectiva are few of the companies leading in the global data monetization market. There is a need to generate valuable insights from raw data. Data sets come with different parameters and are processed for reports.

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There are different models of implementing data monetization, viz. Return on Advantage Model, Premium Service Model, Differentiator Model, and Syndication Model. All the models help in restructuring the business that assists in improving overall operations. The market is relatively new in Asia Pacific; however, it has great potential to move ahead with greater business decision insights for large enterprises with big data and AI. Predominantly, the major functionality of monetization software is designed to offer a competitive advantage. These processes help enterprises in prioritizing several tasks and assist in key management decision-making and are considered essential in a dynamic market. Many prominent ISVs and service providers are leading in the market with various offerings and different capabilities. An effective data monetization would help in marketing, smooth supply chain, and better operational capability, among others. It is expected to enhance the delivery process and pricing for its clients.

– Swarup Bhowal
ICT – Research Analyst
Infoholic Research