You're reading from The Economics of Data, Analytics, and Digital Transformation

Product typeBook

Published inNov 2020

PublisherPackt

ISBN-139781800561410

Edition1st Edition

Concepts

Data Analysis

Author (1)

Bill Schmarzo

Transitioning from Business Optimization to Insights Monetization

Here are the actions to transition from Phase 3: Business Optimization to Phase 4: Insights Monetization:

Aggregate, cluster, and classify the customer, product, and operational insights, captured in the Analytic Profiles, into new revenue or Monetization opportunities. Create a rough order estimate of market size and viability of new monetization opportunities and assess how the new opportunities leverage and/or extend existing data and analytic digital assets.
Create customer and operational Journey Maps to identify sources of customer and market value creation and then map those sources of Value Creation against the organization's internal data and analytic capabilities for Value Capture.
Explore new customer and market "as a service" consumption models that not only support the new Monetization Opportunities but yield new sources of customer, product, and operational insights...

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Author (1)

Bill Schmarzo

Bill Schmarzo, The Dean of Big Data is a University of San Francisco School of Management Executive Fellow and an Honorary Professor at the School of Business and Economics at the National University of Ireland-Galway where he teaches and mentors students in his courses “Big Data MBA” and “Thinking Like a Data Scientist". He is the author of Big Data: Understanding How Data Powers Big Business, Big Data MBA: Driving Business Strategies with Data Science, and The Art of Thinking Like a Data Scientist. He has written countless whitepapers, articles and blogs, and given keynote presentations and university lectures on the topics of data science, artificial intelligence/machine learning, data economics, design thinking and team empowerment.
Read more about Bill Schmarzo

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