Albany, NY -- (SBWIRE) -- 06/08/2018 -- Data monetization is the process of converting your traffic on your site, blog or mobile to Money. Data monetization is helping organizations to reduce costs or increase revenue by investing in an analytics platform with indirectly or directly Advertisement, By Personalized Offers and By Reselling Data.
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Data Monetization: Who are the customers?: Today's ignored customer segment- "The Enterprise". Data monetization is becoming trending topic in technology world and especially data rich sectors such as telecom, e-commerce & retail, BFSI, healthcare, travel & logistics are looking into the opportunities for applications such as sales & marketing, supply chain management, capital asset management, remote equipment monitoring and others.
Growth Factors: Today, the world is anticipated to witness lucrative growth due to the rise in adoption of digital services such as over-the-top services, IoT, cloud, mobility and artificial intelligence. Hence, large amount and variety of data is available with companies. Therefore, companies are more focused on utilizing this data in their business processes in order to enhance the processes and identify or estimate future trends.
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Risks and Rewards: However, concerns related to data privacy and ownership are relatively high. This is a major factor affecting the large-scale monetization of big data. The framework for the collection of personal data is fragmented based on national and regional laws & regulations that govern the extent of permissible processing/analysis and transfer to third parties with and without consent.
Trends and Opportunities: Rapid advancement in big data and analytics solutions is a key trend boosting market growth. Monetizing utility data is likely to be the next logical step in the evolution of data generated from automation technology in sources such as connected home and smart utility meters.
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