Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data driven insights
    How Data-Driven Insights Are Addressing Gaps in Patient Communication and Equity
    8 Min Read
    pexels pavel danilyuk 8112119
    Data Analytics Is Revolutionizing Medical Credentialing
    8 Min Read
    data and seo
    Maximize SEO Success with Powerful Data Analytics Insights
    8 Min Read
    data analytics for trademark registration
    Optimizing Trademark Registration with Data Analytics
    6 Min Read
    data analytics for finding zip codes
    Unlocking Zip Code Insights with Data Analytics
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: How Data Monetization Can Add Value To Your Analytics
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > How Data Monetization Can Add Value To Your Analytics
AnalyticsBig Data

How Data Monetization Can Add Value To Your Analytics

Philip Piletic
Philip Piletic
6 Min Read
Data Monetization
Shutterstock Licensed Photo - By Wright Studio
SHARE

If you have any sort of analytics system in place right now, then you’re more than likely not getting as much value out of it as you could. Data monetization refers to the way that companies are able to get real financial benefits out of data sources that they already have.

Contents
Monetizing Big Data on the Largest LevelsBlockchain is a Link for Big Data ProcessorsSMBs Stand to Benefit More than AnyoneData Monetization Builds Networks

You might be collecting location information from consumers who use IoT (Internet of Things) sensors or your mobile app if you’re involved with any kind of next-gen web company. Even traditional businesses are collecting more data about how consumers search for and find products and services they’d like to purchase.

By leveraging this data against the traditional databases you probably already have, you might be able to streamline your operations and find revenue streams you didn’t know existed.

Monetizing Big Data on the Largest Levels

Many of the world’s largest tech companies are no longer focused on optimizing costs so much as they’re geared toward delivering the best user experience possible. These firms are looking to collect behavioral data during regular customer interaction with their products. Proprietary data collected in this fashion is legal to use, as is information that companies collect from monitoring social media and the way clients use their web pages.

More Read

The SmartBay Project created a system to monitor wave…
Implementing and Using Social Media Analytics
How to Position your Database Start Up
How to Boost Data Analytics Adoption by Improving the User Experience
6 Key Data Analytics Metrics Website to Track for 2021

Researchers perform analytics to draw insight from this data. Once they’re done, large firms develop a plan of action to add new methods of customer communication that streamline the experience. Some firms have opted to go with triggered notifications in apps or on their sites that help to convert leads into actual sales. Others have completely refocused their campaigns because they found that the previous methods they used for promotion just didn’t work.

Blockchain is a Link for Big Data Processors

Blockchain has become such a buzzword that many media personalities now use it incorrectly. It refers to a huge linked list of records organized into blocks that are linked together with a cryptographic hash. This helps to prevent tampering, which means data stays put once it’s written.

Peer-to-peer networking systems are used to reduce the processing load on machines with blockchain ledgers deployed on them. While this technology was originally developed for use with cryptocurrency platforms, it’s inadvertently created a system where content creators are able to sell content without needing a central authority to monitor it.

This means the companies that create large amounts of data are able to profit from it directly by cutting out the middleman and selling it right to firms who need it. One company used it to produce massive databases full of 3D images that online retailers and VR developers can use. They’ve been able to set their own prices and haven’t had to transfer a single dime to an outside conglomerate. Other companies specialize in combining Big Data and Blockchain to bring new insights and increased profits to businesses, while also offering all the benefits of decentralized systems.

Financial institutions are now putting the technology into play as well. Those who’ve adapted to it have been able to deploy much simpler server infrastructures to manage clearing information than those who continue to use traditional methodologies.

SMBs Stand to Benefit More than Anyone

You might be saying to yourself that none of this applies to you because you don’t have an operation that’s as large as any of these examples. Email monetization can benefit even the smallest companies, since it leverages data collected through the least expensive avenue possible.

If you’re asking yourself what is email monetization, then you might be surprised that your company is already probably doing some form of it. Anyone who maintains a database of leads and uses it to reach their consumers directly are monetizing their email list.

Small business owners can benefit from changes in how they look at this data more than anyone else. They have the most room for growth, after all.

Plug your existing email data into a low-cost analytics engine. Find out which of your email campaigns did well and which didn’t. Replay your best campaigns to leverage past success. If you’re an established authority in your field, then you might even be able to get people to subscribe to premium content in this way.

Another great example is advertising platforms. The competition for this is huge, since modern methods are super-precise. Forget about the annoying popups of the previous decade – modern-day ads target very specific demographics and change based on various factors, like geographic location, for example. Data that feeds the popular ad platforms is the new oil – everyone wants some, and the prices are through the roof.

Data Monetization Builds Networks

Take a good look at all the links you’ve collected in your database while you’re at it. Lists of links like these are where affiliate programs start. Whether you’re managing a small email list or a blog, linking with other people can generate leads and help you turn your data into money.

TAGGED:analyticsbig datablockchaindatafinancialMonetizationSMB
Share This Article
Facebook Pinterest LinkedIn
Share
ByPhilip Piletic
Follow:
My primary focus is a fusion of technology, small business, and marketing. I’m a writer, marketing consultant and guest author at several authority websites. In love with startups, the latest tech trends and helping others get their ideas off the ground. You can find me on LinkedIn.

Follow us on Facebook

Latest News

accountant using ai
AI Improves Integrity in Corporate Accounting
Exclusive
ai and law enforcement
Forensic AI Technology is Doing Wonders for Law Enforcement
Artificial Intelligence Exclusive
langgraph and genai
LangGraph Orchestrator Agents: Streamlining AI Workflow Automation
Artificial Intelligence Exclusive
ai fitness app
Will AI Replace Personal Trainers? A Data-Driven Look at the Future of Fitness Careers
Artificial Intelligence Big Data Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

technology behind data recovery
Big DataExclusive

Grasping The Cutting Edge Technology Behind Data Recovery Tools

5 Min Read
use big data to research social media
AnalyticsBig DataExclusiveSocial Data

4 Ways To Use Big Data To Monitor Competitors On Social Media

7 Min Read

Analytics: Not About Saving Time

7 Min Read
How to Analyze the True Effectiveness of Your Website
Web Analytics

How to Analyze the True Effectiveness of Your Website

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence
AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?