Monetization of Data and Analytics
Data Sharing and Monetization
An enterprise's data is obviously valuable to the enterprise itself. Less often talked about is the idea that such data may be valuable to other companies as well. For example, to a manufacturer of consumer products, a retailer's point of sale data is an invaluable window into the marketplace. Similarly, social media data can be of great interest to a retailer. In fact the possibilities are endless: Arguably the data of any organization that collects significant amounts of information could be valuable to many other companies in many other industries.
Conversely, there are many benefits to a company sharing its data with others. Most obvious is that people may be willing to pay for it. Such monetization of data assets can be an important new source of revenue to companies in competitive markets. Other benefits of sharing data include collaboration on marketing campaigns and product development.
The Future is Now
We believe that sharing data across corporate boundaries will become an increasingly important part of any discussion about data analysis. The only real obstacle is that it is impossible to implement with conventional database technology, including both the older relational model and newer NoSQL methods. The 1010data platform eliminates this problem. In fact most of our hundreds of customers, aside from using the platform to analyze their own data, also use it to access and analyze other companies' data.
What makes 1010data the perfect solution? At a high level, there are two prerequisites for organizations to share data: The data needs to be kept in a place that is accessible to all, and there has to be an easy way to access and analyze it in new ways. 1010data is unique in that our Cloud-based platform meets both requirements. The Cloud is accessible to anyone, anywhere, and our Trillion-Row Spreadsheetsm provides the ease of use and flexibility.
Adding Apps to the Mix
Aside from owners and users of data, 1010data's platform can also be used by third parties to create apps. In this scenario, one company may supply the data, another may build apps that use the data, and a third may use the apps.
Learn more about how you can monetize your data or use others' data.