The next frontier in the field of digital transformation is data monetization. The efficacy of execution determines the success of the data monetization plan. Success will be jeopardized if the necessary degree of execution, leadership commitment, culture, and entire environment are not in place. Organizations may choose to commercialize data in any way they see fit, but the commitment of key stakeholders from every management function is critical. Data monetization programmed with realistic aims has been shown to give the highest ROI.
Data innovation leverages novel or unconventional data sources and methodologies to comprehend product development difficulties more deeply. Data innovation frequently mixes unconventional with conventional data sources to re-frame the challenges and give fresh insight into situations that initially appear to be unsolvable. Combining data sources can result in making interventions more cost-effective and gaining brand-new insights that might not have been possible using more conventional methods. Make these insights available to internal or external stakeholders and see the digital transformation efforts achieve their true potential.
It’s time to generate quantifiable economic advantage by leveraging your data and monetizing through Digital Transformation.
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