Data Business Models

There are several ways to approach data monetization.

Here are four approaches to consider for your data:

Basic content — this business model provides raw or analyzed data that can be used as is. 

An example is a customer list with contact information.

One can sell this list to other companies who have related products to your company.

Information about products — this business model makes available information about the product.

An example is an online database of your past purchases indicating what was bought and when.

For companies tracking their use of a product, this can be helpful for budgeting purposes. 

Data search– this business model matches a company’s need for data with a data source.

For example, a company seeking a customer list for their trading product could find it through a “data broker” who can match them to another company with that list.

Data aggregation — this business model has a company capturing data from several sources into one dataset to sell.   

For example, a company could capture all the products being sold for a specific application and then contrast and compare the products for price and quality.

This saves buyers time in finding the right product.

Consider these business models for your data monetization.

 

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