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.
"A broad swathe of enterprises seek to better monetize their data assets, and these definitions and examples help reduce the confusion between actions organizations are taking internally to better realize an internal 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."
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