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IDC PeerScape: Data Monetization — Practices for Creating Data Products

IDC PeerScape: Data Monetization — Practices for Creating Data Products

This IDC PeerScape explores how pioneering enterprises are creating data products to sell externally — also known as data monetization. The data may be sold to aggregators or adjacent industries, or it may be wrapped up in an online data analytics service offered to the existing customer base. The initiative may be led by the chief information officer (CIO) or by the chief data officer in close cooperation with the CIO. Either way, it requires turning raw data into a high-quality product and building a full-fledged, customer-focused business around that data product, including hiring product managers and salespeople."The role of the CIO in data commercialization is multifaceted: catalyst, educator, talent recruiter, and builder of a secure data platform," says Mitch Betts, adjunct analyst, IDC's IT Executive Programs (IEP).

Please Note: Extended description available upon request.


IDC PeerScape Figure
Executive Summary
Peer Insights
Practice 1: Ensure CEO Support for Risk-Taking Data Ventures
Challenge
Examples
Guidance
Practice 2: Turn Raw Data into a Product That Solves Customer Problems
Challenge
Examples
Guidance
Practice 3: Determine the Role of the CIO and IT Department
Challenge
Examples
Guidance
Practice 4: Staff Up with Customer-Focused, Product-Oriented Talent
Challenge
Examples
Guidance
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