Executive Summary

Executive Summary

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  • Data Monetization can be achieved by applying AA, which provides Deep insights, Cognitive services and Automating decision-making.
  • With Data Monetization, firms achieve:
    • Increasing operational efficiency.
    • Empowering their employees.
    • Re-envisioning how they engage customers.
    • Transforming their product offerings.
    • And new revenue opportunities by leveraging their data assets.
  • To achieve successful data monetization, firms must formalize their vision and refine their marketplace niche.
  • To improve results, companies must integrate:
    • Human interventions
  • And automated, Machine-Learning driven processes.
  • As companies seek new value from their data, they will look at the basic foundations of data within their institutions:
    • The data infrastructure and the business processes that support how data is collected, stored, updated, managed, secured, analyzed and used.
    • Collection, integration and use of data across business units & product siloes.
    • The organization will have to consider who owns and controls the data:
      • The customer has ultimate ownership and control.
    • However, generating new value from data can and should proceed:
      • Data-fueled intelligence is permeating all aspects of business
      • Other companies from other industries are generating new value from it…
    • Several new principles on data utilization may drive or hinder value generation, depending on how they are interpreted:
      • Privacy impact assessment / The right to be forgotten / Consent and inference / And data portability.
    • Different models:
  • Internally oriented value creation: firms can generate value out of their data by using Analytics.
  • Externally oriented data monetization, using several models:
    • Acquiring data / Providing data / Bartering internal data with another firm / Externalizing distribution / Co-innovating and partnering
  • The team leading the initiative to monetize data should see it a real business.
  • Organizations with a well-planned Enterprise Project Management Office (EPMO) report are:
    • Successful in meeting 48% higher than their initial objectives & goals.
    • 42% of the projects attained their targets.
  • Among the current trends in PM, we find:
    • AI / Hybrid Methodologies / IoT / Standard Cibersecurity Solution

Data Literacy & Augmented Analytics

  • Data literacy is the most important skill business leaders will need in their workforce. The Data Literacy Index found out that:
    • More data literate companies have 3-5 higher business value
  • To become a data literate enterprise, what is needed is
    • Top-down vision, support and
    • To make solid logical inferences
      • And ensure their implementation in the real world is in line with the data-literate workers…
      • It is critical to produce transparent explanations that business users can easily understand, verify and act on.
    • Augmented Analytics reduces the need for data literacy to extract insights
Use cases: