What is Data Monetisation?
Data Monetisation refers to the process of using data to achieve quantifiable economic benefit.
Internal or indirect methods of Data Monetisation include operationalising business insights, gained from data analytics and data science, and actionable recommendations to improve business performance.
In external or direct methods of Data Monetisation, insights from data are used to develop new products or markets, share data to obtain favorable terms or conditions from business partners, exchange information, sell data directly, or offer of information products and services.
Use Cases
More and more companies are applying Data Science or Machine Learning (ML) to make predictions and expectations based on their data. They do this to be able to respond more quickly to possible changes that affect their business processes, or to maintain their competitive advantage. Some (well-known) examples are:
- Predictive Maintenance, performing risk-based maintenance on assets with a certain expected failure probability.
- Customer recommendations, cross-selling and/or upselling based on people with similar interests/purchases
- Fraude detection
Our Services
We support our customers in using embedded analytics to automatically optimise parts of their business activities.
ML Engineering
RPA
API Development
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