Using AI and Data Analytics to Monetize Data: 4 Techniques

The economic value of data for companies is challenging to conceptualize and measure directly. Many executives have the wrong perception of data monetization. To them, the only way to derive economic value from data is to sell it to other companies. As a result, they overlook the immense untapped value that it represents. Companies can monetize by improving customer experiences, reducing costs, finding new customers, and so much more from the data that is produced directly or indirectly using big data analytics and AI.