Super interessanter Beitrag heute zum Thema Datenmonetarisierung. So geht ihr es an!
There are 6 major factors you should evaluate:
Market Share: Is your organization managing at least 20% of your core market’s transactions?
First Mover: Are you the first, second or at least in the top 50% of your market competitors introducing such a product because if you are 80% of the available profit pool with go to you?
Usage Rights: Do you have legal rights to re-use your client’s (B2B and consumer) data?
Privacy: Do you have a deep understanding of required privacy regulations governing this data?
Readiness: Is your organization ready to operate the required IT, sales and service infrastructure?
Value Proposition: Do you fully understand how the consumers of your product/service value it in terms of net-new benefit to them to price it accurately?
If you have these covered, you should be in good shape to start a more formal, meaning budgeted evaluation of your go forward. You may have also noticed that I spoke about a “product” in this list. The reason: what you are ultimately providing your customers is precisely that – a new Digital Product.
Yes, data becomes a product.
Companies like Nielsen, Acxiom, D&B, TransUnion, Equifax, Bloomberg and IMS run their business on licensing their data in raw format or as part of an application infrastructure. Your goal should be to become like them.
What will your new digital product do for your clients? It will likely fall into one or more of this six – yes, six again – digitization categories.
All these facilitate the development of one or a combination of the following consumption mechanisms:
A consumable, enriched and clean data set (think a marketing list)
An analytical application (think dashboard or predictive model about customer churn)
An operational application (think product failure alert and maintenance scheduling system)
No matter which flavor or combination of consumption you choose, you must come up with a set of use cases for at least one of the six digitalization categories.