Data monetization must be a top-down initiative in a business. Leaders must understand that data analytics will not only help save expenses; if done right, it can also generate sizeable new revenue streams.
As soon as key internal stakeholders have this understanding, leaders must emphasise its significance to them in order to win their support and produce the greatest results. It's critical to reach consensus on the broad goals prior to starting the Data Monetization process. You must decide beforehand whether this is purely an internal cost-cutting exercise or whether you're planning to introduce a new data-as-a-service division to your company. Here is because investing in several processes with a single focus makes it very difficult to change your overall data aims.
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