Marketing

New Ways For Turning Data Into Dollars Now

15th Jan `14, 05:32 AM in Marketing

Big Data is transforming the way companies do business. But many firms are finding that it requires significant…

BDMS
Guest Contributor
 

Big Data is transforming the way companies do business. But many firms are finding that it requires significant investments of time and money before seeing the value. We believe that by providing businesses with controlled access to their data ecosystems, companies can monetize their data to help fund the longer-term Big Data journey.

This approach differs from traditional data selling – where revenues are minimal and privacy concerns significant – in three ways. First, the customer opts in to have their data shared in return for receiving something of value in return, such as personalized offers. Second, the firm that generates the data shares access in a controlled, traceable fashion. And finally, companies enhance the data provided to partners through analytics, segmentation, targeting, and other services.

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