This IDC PeerScape discusses the introduction of data monetization and data as a service (DaaS) as methods for companies to develop viable offerings.
Creating revenue from data assets is a popular topic. However, this is not a simple thing to do, particularly for companies that have not traditionally been in the information services business. The issues do not center on having data but virtually every other aspect, from how to organize the data to how to organize the offering to marketing to the technical underpinnings, all of which introduce challenges that derail many data monetization efforts.
"Introducing data as a service is a new direction for many companies," says Lynne Schneider, research director for Data as a Service at IDC. "It is one that can be illuminated by the insights of peers who have tried and had some success with achieving an external return on their internal data assets."