Fast-Track Data Monetization With Strategic Data Assets

For years, using more data to make better decisions has been the holy grail for global companies, and most of them aim to treat data as a strategic asset. But new research from the MIT Center for Information Systems Research (CISR) has found that future-ready companies have greater ambition regarding their data. These organizations strive to maximize their data monetization outcomes by pervasively improving processes to do things better, cheaper, and faster; wrapping products with analytics features and experiences; and selling new, innovative information solutions. To monetize data, companies must first transform it so that it can be reused and recombined to enable new value creation. The easier the reuse and recombination, the higher the data’s liquidity, which we define as “the ease of data asset reuse and recombination.”