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Management Journal Article hero
Management Journal Article

How to Monetize Your Data

Most companies are awash in data—but figuring out how to derive a profit from the data deluge can help distinguish your company in the marketplace.
Abstract

The possession of rich amounts of data is hardly unique in today’s world. But the ability to monetize data effectively—and not simply hoard it—can be a source of competitive advantage in the digital economy.

Companies can take three approaches to monetizing their data: (1) improving internal business processes and decisions, (2) wrapping information around core products and services, and (3) selling information offerings to new and existing markets. These approaches differ significantly in the types of capabilities and commitments they require, but each represents an important opportunity for a company to distinguish itself in the marketplace.

About the Authors

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Jeanne W. Ross, Principal Research Scientist, MIT Sloan Center for Information Systems Research (CISR)

MIT SLOAN CENTER FOR INFORMATION SYSTEMS RESEARCH 

Founded in 1974 and grounded in the MIT tradition of rigorous field-based research, MIT CISR helps executives meet the challenge of leading dynamic, global, and information-intensive organizations. Through research, teaching, and events, the center stimulates interaction among scholars, students, and practitioners. More than ninety firms sponsor our work and participate in our consortium. 

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