With the increasing amount of generated, streamed and processed data, it is more critical than ever for organisations to understand how to transform this key asset into value.
Data monetisation offers a structured approach to identify, define and leverage data assets, creating tangible economic benefits. This process can unlock new revenue streams, reduce costs and open opportunities for innovative data related services and partnerships.
By harnessing the power of cloud technologies and their role in modern data strategies, organisations can realise significant rewards from relatively small investments.
This thought leadership aims to offer a comprehensive understanding of data monetisation essentials, enablers and challenges. It provides a structured mechanism to help organisations uncover data value and develop the capabilities needed to thrive in the data-driven economy.
Key highlights:
Economic value of data: The data economy now contributes to 4% of the EU’s GDP, with open data markets expected to reach US$352 billion by 2025.
Saudi Arabia's Vision 2030: Saudi Arabia is positioning itself as a leader in the global data economy, with more than 245 government entities already implementing the National Data Management Office’s framework.
Monetisation strategies: Successful data monetisation requires a combination of cost optimisation, enhanced customer experiences, and new revenue streams.
Key enablers: Advancements in business intelligence, AI, and cloud computing are vital in leveraging data assets effectively.
