Business Models for the Data Economy (1)

By: Q. Ethan McCallum and Ken Gleason

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Synopsis: You're sitting on a pile of interesting data. How do you transform that into money? It's easy to focus on the contents of the data itself, and to succumb to the (rather unimaginative) idea of simply collecting and reselling it in raw form. While that's certainly profitable right now, you'd do well to explore other opportunities if you expect to be in the data business long-term.In this paper, we'll share a framework we developed around monetizing data. We'll show you how to think beyond pure collection and storage, to move up the value chain and consider longer-term opportunities.