Today, organizations that are effective at data monetization create lucrative data products enabled by data assets that are easily reused and recombined. This requires that the organizations selectively liquify data assets, purposefully invest in data monetization capability practices, develop data-driven cultures, and establish a product management mindset regarding data. In this study, we will investigate the current state of data monetization, which we will identify by replicating the MIT CISR 2018 Data Monetization Survey; and we will explore how organizations develop and execute effective data product strategies.
This study will primarily rely on a survey of several hundred executives who have an understanding of their organization’s data monetization investments and outcomes. We will also conduct at least one case study or vignette on an organization that has learned how to create lucrative data products.
We will focus on the following research questions:
- How do organizations generate top financial returns from data monetization? How do data monetization returns contribute to overall firm financial performance?
- How do data liquidity, data monetization capabilities, data-driven culture, and product management practices influence data monetization effectiveness?
This project is a continuation of MIT CISR’s 2023 research project on Monetizing Data with Dynamism.
SEEKING: We are seeking participation in the research from executives with an understanding of their organization’s data monetization investments and outcomes.
CONTACT: Barb Wixom