MAXIMIZE VALUE FROM DATA
Based on a report by A.T. Kearney, only 1 out of 12 companies are monetizing their data to its maximum potential. What separates these companies from the flock is their utilization of analytics and data organizational tools to increase the value and accessibility of their data. Align BI is in the business of helping businesses maximize value from data by turning it into dollars. Learn more about our data monetization services, below!
We’ve all likely heard the phrase “Data is the new oil”. We are starting to see companies where they are managing their data like an asset and putting the value of their data asset on their books.
In addition, we are seeing a rapid rise in the number of companies with Chief Data Officers tasked with optimally utilizing and increasing the value of their data assets.
We’ve helped several companies build portals to share their data with suppliers, partners, and also enabling them to directly monetize their data by selling access to their data in a subscription model. If this is something you’ve been contemplating, let’s talk as we can help you rapidly monetize your data with external customers.
Whether you are internally using your data, or selling it to someone else, there are two primary ways that data can be further monetized:
- Reducing Costs: Data, when properly utilized to make educated and informed decisions, can cut the operating costs of a company by creating efficiencies, reducing waste, and generating more productivity.
- Growing Revenue: Monetized data gives companies better insights into their customer relations and sales practices, which helps keep clients, attract consumers, and prevents customers from leaving.