Data monetization

Organizations leveraging data in their business aim to achieve financial return in the form of revenue or cost savings. They use facts backed by data to set an execution strategy on the who, what, where, when, and why. The business objectives are to derive significant and actionable insights from data leading to monetization. Gartner defines data monetization as follows:

…process of using data to obtain quantifiable economic benefit. Internal or indirect methods include using data to make measurable business performance improvements and inform decisions. External or direct methods include data sharing to gain beneficial terms or conditions from business partners, information bartering, selling data outright (via a data broker or independently), or offering information products and services (for example, including information as a value-added component of an existing offering).

(https://www.gartner.com/en/information-technology/glossary/data-monetization...