The process of using data to generate more revenue is known as data monetization. The most successful and quickly expanding businesses have embraced monetization and made it a key component of their overall strategy.
Selling direct access to your data to outside parties is known as direct Data Monetization. You have the option of selling it raw or in a form that has already been transformed into analysis and insights. Examples of this type include lists of potential business partners or research findings that have an impact on the industries and businesses of buyers. The interesting part is indirect monetization. First, there is optimization based on data. This entails analysing your data to unearth insights that can boost the productivity of your company's operations. Data can help you understand customer behaviour and how to reach them so you can drive your revenue. Additionally, data can show where and how to cut costs, minimise risk, and streamline operations.
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