Ondřej Kulhánek | 1 May 2019
How do we value our data? That's the question so many in business are asking at a time when the volume of data available to companies is growing exponentially. What companies are realizing is there is no finite answer. Unlike tangible assets, the value of data can grow the more ways it is utilized and the more insights that are drawn from it. No wonder then that data monetization – literally defined as the process of increasing the economic value of data – is becoming such an important and growing area for all businesses. Through data monetization your business can start treating data as an asset and gain the benefits from maximizing its value.
The potential for data to deliver value for many parts of the business is enormous.
How then can your business succeed at data monetization? From our* experience these are the five rules you need to follow.
For more insight on data-related topics, please visit our data-driven technologies article series page.
* “We”, “KPMG”, “us” and “our” refer to the network of independent member firms operating under the KPMG name and affiliated with KPMG International or to one or more of these firms or to KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.