The generation of new revenue streams from datadriven products is depicted in this Customer Data Monetization Business Model. This can refer to either extracting insights from big data to improve internal business performance or selling data and insights to third parties. In either case, the data must be valuable because it is unique, and actionable for the purchasing party, or it must have been cleansed or deduplicated to maximize data quality. Developing a data monetization strategy is the first step for organizations interested in generating new revenue streams. To get started with the Customer Data Monetization Business Model, download this EdrawMax template online.
