Turning Data Into Revenue-Generating Products: Four Steps to Success

Sumeet Howe's picture
Sumeet
Howe

Social Media

Director, Data Products & Strategy
November 18, 2016

Over the next few years, the market for data-driven products and services is expected to grow by 26.4 percent — six times the rate of the tech sector as a whole — according to IDC Research.

Driving this growth is the realization that data products can create not only a new source of revenue, but also a unique competitive advantage. However, many companies become stuck on the “how” — how to create the product and launch with an effective go-to-market strategy.

This “how” is the subject of an article I recently contributed to Data Informed, “4 Steps to Designing and Launching an Effective Data Product.” If its data product is to succeed, the organization must Determine goals and develop a user-led product design

  1. Establish pricing and packaging
  2. Roll out a successful launch
  3. Continue to add new features and functions

For a detailed description of each step — and a real world case study — I invite you to read the full article here.

To learn more about choosing the right embedded analytics solution for your organization, download the report Which Embedded Analytics Product is Right for You?

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