This past summer, I collaborated with a number of experts to focus on how digital and sustainable business trends are creating opportunities and challenges for organizations of all sizes. Data-driven marketing, intent-based solutions for customer experience, engagement marketing with personalization, and workforce success across generations were key topics that co-creator teams explored and covered at length.
Looking in the rear view mirror but certainly not left behind, a universal theme surfaced about why business people across functions need to harness and use valuable data in real-time to collaborate more effectively, make better and faster individual and team decisions, and drive sustainable revenue growth in meaningful ways. With all this as a backdrop, I believe data monetization must be a bedrock competency that business people embrace to create digital and sustainable business value.
Why the urgency for data monetization depth and breadth?
Fact is, billions of people are more empowered now with mobile devices and cloud-based access to information about products, services, and brand experiences. From customer experience and success perspectives, stickiness and satisfaction are increasingly difficult to sustain given that customers demand instant gratification for their ever-changing tastes and expectations. Switching product and service providers is now just a matter of clicking a few keys on a mobile phone. Forrester Research, Inc. calls this the Age of the Customer and all this activity via digital, mobile, social (cloud) and point of sale channels is creating incredibly good data for businesses to better understand and respond to customers’ needs, behaviors, and future expectations.
But this issue goes well beyond customer experience. All businesses are investing in a tremendous amount of data that, in essence, is buried deep and often times forgotten within organizations as underutilized assets. And much of today’s workforce doesn’t know how to convert and monetize these assets -- to unlock the true value of data.
I’m thrilled to announce that GoodData and Creatorbase are collaborating to create and share ideas and insights about how businesses are successfully distributing data analytics to internal and external stakeholders that enable them to unlock the value of their data in more meaningful ways. Blaine Mathieu, CMO at GoodData, is a familiar face in the Creatorbase community and he invited me to take a deep dive of sorts at the ‘Data Monetization Summit' being hosted by GoodData at the W NYC. Call it an emersion-opportunity I couldn’t resist with a number of customer and thought leader speakers including Philip Carty, Chief Revenue Officer at GoodData. We’re going to cover and learn about how to:
- Understand go-to-market strategies for monetizing data
- Create a product plan that includes strategies for embedding analytics
- Develop pricing strategies to drive recurring revenue
For me, the summer of 2015 was an incredible discovery and learning experience on so many levels. One area of concentration for the rest of the year is going to be on diving deeper into how businesses can leverage their data assets with proven best practices and strategies. And we’ll do this based on new capabilities to unlock the value of data in the enterprise through analytics distribution and intuitive user experiences.
Learn more ...
Want to learn more about data monetization? Download CITO Research's Guide to Data Monetization. Connect with us via @Creatorbase and @GoodData, and share #analyticsatscale ideas and insights within your communities as we all prepare for 2016!