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  • WHITE PAPER

Taking a methodical approach to data monetization

 

 

Sandeep Saxena

Head, Data Marketplace Program, Corporate R&I, TCS

Santanu Ghosh

Leader, Sustainability Ecosystem for Analytics and Insights, TCS

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How enterprises can list data as an asset on their balance sheets

With data growing at clip speed, organizations are seeking ways to commercialize data. However, not all data monetization efforts are successful, given the volume of unregulated data and technical challenges related to data privacy, discovery, quality, security, sourcing and accountability. For organizations to successfully monetize data, it is crucial to ensure right pricing and value. This requires analyzing data context, market value, historical demand and competitor pricing to arrive at a successful data pricing model. This can be done by:

  • Building a data pricing model to classify data into a product

  • Taking a quantitative pricing approach to determine base price

  • Improving final price with qualitative pricing

This will ultimately help reduce revenue leaks, increase customer retention and improve decision making for creating new value streams. To know more on data commercialization, please download the PDF.

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