Identify and evaluate opportunities to create new revenue streams and reach new markets from market testing through to building and operating highly scalable products.
Monetising Big Data
Our big data monetisation strategy commercialises our clients’ greatest asset, their data, by unleashing insights that will generate substantial and measurable economic opportunity. When monetising data, data monetisation companies look for opportunities that create valuable benefits from leveraging data to:
Increase or build new revenue;
Minimise costs and reduce inefficiencies.
We see the big data monetisation definition as a broad term for creating commercial opportunities with the application of data science and analytics and that a successful data monetisation strategy not only considers opportunities for generating value but also determines potential business areas to reduce costs and inefficiencies where value is not being generated.
When we talk about data-driven transformation our strategic solutions that enable the development of a data monetisation business model, are key in continually optimising our clients businesses, achieving solutions and quick wins that transform the value generated by the business, without affecting the client’s business goals.
Data Monetisation Business Model
Our clients reap the benefits of developing their data monetisation business model by enhancing their most important stakeholder relationships from partners and suppliers to customers.
Suppliers and Partners
Many firms have access to rich market data, but find it difficult to package this insight effectively to their suppliers and partners. We do four key things for our clients’ B2B businesses to develop these relationships:
Create unique market insight solutions to offer directly to their B2B partners.
Manage ultra-large, complex market data sets, too big and unstructured to be accessed by conventional means.
Deliver intuitive, responsive customer data tools, informed by the latest market data, with modern app-style interface and mobile alerts.
Manage secure solutions from the cloud, providing a continuously upgraded service, with scalable infrastructure and global reach.
Many B2B firms have access to rich market data, but also find it difficult to package this insight effectively to their customers.
Similarly businesses often have got as far as developing proof of concepts that demonstrate the need and the value of their data, however would need to charge unaffordable prices as the delivery remains hugely manual.
Our data monetisation solutions are built to conquer the challenges our clients typically face including:
An inability to scale the data analytics across thousands of different customers simultaneously.
Addressing a variety of different use cases and customer demands.
Maintaining acceptable response times.
Delivering at scale within an economic model that makes it affordable to buy for the end customers.
By enhancing these partner/supplier and customer relationships using data and analytics as a conduit, our clients recognise the following benefits of a data monetisation business model:
Generate more revenue, increase share-of-wallet and enhance loyalty.
Empower your suppliers to compete more effectively.
Create a 'data moat' between you and your competitors, using proprietary data that is hard to replicate.
No additional burden placed on your in-house IT or analytics teams.
Data Monetisation Approach
With proven big data monetisation methods and solutions for B2B clients and their customers and partners/suppliers, we rapidly deliver data and insight products out to market within three months at scale, where our clients notice the immediate benefits of implementation from launch. Using our cloud-based data ops platform our clients are able to:
Deliver unique insights to their partners/suppliers and customers at speed and scale;
Handle vast unstructured, continuously changing big data sets;
Process these big data sets through our unique proprietary data structures powered by automation and machine learning;
Deliver these at scale through our intuitive and responsive data visualisation tools.
From market testing through to building and operating highly scalable products, by monetising your data asset we help to drive retention and growth of our client's customers.
31% lift in transaction volumes
These findings were used to commence a program of test and learn around a new direct comms strategy.