Data Monetization

Definition of Data Monetization

The process of converting data into financial value.

Explanation of Data Monetization

Data monetization refers to the process of generating revenue from an organization’s data assets. This can involve directly selling data to third parties, offering data-driven products and services, or using data insights to improve business operations and drive growth. For example, a company might analyze customer data to identify new market opportunities, optimize pricing strategies, or enhance product development. Data monetization requires a clear understanding of the value of data, robust data management practices, and compliance with data privacy regulations. By leveraging data monetization, businesses can unlock new revenue streams, increase efficiency, and gain a competitive advantage.

This dictionary entry was written by

Per-Gulbrand Peter Braathen

With a foundation in doctoral-level research, Per-Gulbrand Peter Braathen is a seasoned expert in the areas of marketing, branding and communication. His proficiency extends to marketing management, branding and communication strategy. Braathen's experience is underscored by his rich background from various industries, including entertainment. A distinguished alumnus of the USC Marshall School of Business, Braathen boasts a Master of Science in Marketing, complemented by a Graduate Certificate in the Business of Entertainment from the USC School of Cinematic Arts as well as two undergraduate Bachelor degrees from the esteemed University of Southern California.