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Treating Information as an Asset
The emergence of a chief data officer (CDO) in many organizations and across industries indicates a growing recognition of information as a strategic business asset – one distinguished from the technology through which it flows. By 2020, Gartner predicts that 10% of organizations will have a highly profitable business unit specifically for productizing and commercializing their information assets.
Turn Data into Dollars
7 steps to uncover opportunities to monetize your data and information assets Monetizing information today is no longer just the purview of data brokers, and it can involve a variety of methods beyond simply licensing it. Take real estate websites for example. Users drive 90% of the activity by clicking on photos.However, most of the photos and objects in them are not tagged, leaving the sites with no way to determine visitors’ interests.
How to Convince the Board to Invest in Data and Analytics
Data and analytics leaders must show how their programs both contribute to and are necessary for an organization’s strategy. Data and analytics (D&A) have been top of the CIO’s agenda for several years. However, to reach levels of maturity in D&A that have potential to bring about the biggest advantages, every area of an organization should be developing some proficiency.
