Monticello Team Joins Discussion on Monetizing Your Data Assets

Monticello Consulting Group joined Gartner’s discussion on Monetizing Your Data Assets with Data-Driven Innovation. As data monetization creates new business value and quantifiable economic benefits for organizations, it’s critical to adopt a deliberate and systemic approach to discovering and implementing new monetization opportunities. Key discussion points included: how to identify business opportunities for data monetization, what approaches to adopt for data-driven innovation management, and how to deal with pitfalls and misconceptions for data monetization. The Monticello team understands how essential it is for organizations in this process to be able to measure the value of data assets, find ways to modify business models for revenue growth, look for strategies and real-world use cases for inspiration, and balance the values and risks derived from data. Additionally, the discussion highlighted useful design thinking processes to help organizations identify various ways to generate economic benefits from data: while direct monetization practices such as trading with information would create tangible revenue, indirect monetization methods should not be overlooked which generate valuable intangible assets that will enhance organizational performance, branded indexes, and customer relationships. The Monticello team welcomed the opportunity to discover new ways to maximize business values through data-driven innovation and we look forward to working with our clients to help them achieve data monetization success.