This IDC Perspective provides a definition of data monetization and data as a service that is useful to organizations that seek to participate in the data as a service marketplace. It distinguishes between internal and external application of these terms and provides a pathway to setting a data monetization strategy.
"We have tried to help reduce the confusion between actions organizations are taking internally to better realize a return on their data assets and the ability to potential to create new or enhanced revenue streams," said Lynne Schneider, research director, Data as a Service. "In this exciting emerging area, we need to define our terms. There are many ways to use data and other digital assets to enhance company performance — and we are just beginning to realize the potential for data as a service."