The Rise of the Data Economy: Driving Value through Internet of Things Data Monetization
The purpose of this report is to provide business leaders a perspective of the emerging data economy and how to drive value through data monetization. Data, specifically Internet of Things (IoT) data, has become a strategic asset that can be sold and exchanged. Determining how to evaluate the potential uses of different types of data is complex and has far-reaching implications. Companies will need to evaluate their organization’s structure, go-to-market approach, and overall corporate
identity in the lens of the new data economy.
This white paper explores the various players in the data economy, and describes how Data Producers - companies that assess, control, and produce data - are positioned for long-term success, and describes how companies in other layers of the data economy need to move up and down the data economy ‘stack’ or risk being marginalized. Aside from Data Producers, Data Presenters are playing an increasingly important role in the data economy. They are the interface to the end consumer and must create valuable user experiences or run the risk of devaluing data underneath.
For companies that cannot immediately participate in the data economy, there are still opportunities to play a critical role. This white paper highlights the importance of industry specific taxonomies and how their creation and curation can generate value, independent of datasets.
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