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What is Data Monetization?

There is a world of difference between creating valuable benefits from data and turning those benefits into money. Learn about it in this audio edition of our August 2023 research briefing.
By Barbara H. Wixom, Cynthia M. Beath, and Leslie Owens
Abstract

Our forthcoming book, Data is Everybody’s Business: The Fundamentals of Data Monetization, is mainly about how to create value from data, but for data monetization to occur, any value you create must be realized. Realizing value from data is about converting value created—efficiency or customer value—into money or getting money directly from data by selling it. In this briefing we define the concept of data monetization as it is used throughout the book and describe how to generate financial returns from improving work, wrapping products with data-fueled features and experiences, and selling information solutions.

The August 2023 research briefing is read by author Barb Wixom.

DOWNLOAD THE TRANSCRIPT

Follow the research briefing podcast series on SoundCloud.

© 2023 MIT Center for Information Systems Research, Wixom, Beath, and Owens. MIT CISR Research Briefings are published monthly to update the center’s patrons and sponsors on current research projects.

About the Authors

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Cynthia M. Beath, Professor Emerita, University of Texas, Austin

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Leslie Owens, Industry Research Fellow, MIT CISR

MIT CENTER FOR INFORMATION SYSTEMS RESEARCH (CISR)

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