Data Commercialization: A CIO's Guide To Taking Data To Market

Strategy Practices For Insights-Driven Businesses

Description

In this report, Data Commercialization: A CIO's Guide To Taking Data To Market, Forrester analysts explain how over half of data and analytics companies are commercializing or sharing data for revenue. This is up from 32% in 2016, suggesting large growth in the industry. This rate is far higher in B2B companies than B2C companies, but extends across the market regardless of the size of the firm. According to Forrester, “startups also recognize that the value of the data they collect can exceed that of their original product or service”. In fact, Forrester finds a significant correlation in their data between high growth firms and firms that commercialize their data.

Forrester suggests ways that all companies should take part in the data market, including B2C companies so long as they follow best practices protocol and use new technologies to assist in maintaining privacy. They suggest that firms that are new to the practice should start slowly and use pilot programs to test out which data set and submarket is most viable for them. They also mention that firms can get started with a data sharing program if commercialization is not right for their organization, as that can still provide key data from partners that can spur innovation.

Interested in learning more?

Get your complementary copy of the report from Forrester Research – available for a limited time.

GoodData is leading the industry in making data analytics available to every company, large or small, in the cloud. As more data is created everywhere, companies need analytics in every part of their business to support their growth. As a result, there is a need to handle all the data in a customizable, self-service analytics platform which will scale with growth of the data and provide insights for the entire business network.

Try GoodData for Free! GoodData is creating intuitive, interactive and insightful dashboards and reports for your external business partners, suppliers, customers, and internal teams wherever they are around the globe. Want to experience how GoodData makes Analytics Everywhere for Everyone possible? Get started for free with a self-service analytics platform.

Complete the form below to access:

marketo forms hide known users

Want to ask about something specific?

Contact us