The economics of data
Data is currency and has value, but the majority of firms have not baked data into their economics. Principal Analyst Jennifer Belissent discusses the dynamic world of data and how companies can use data to drive revenue.
Today, data has taken on massive meaning: a currency of business and a fundamental vulnerability of business. But for most, data is hard.
Digital natives centered their business model on exploiting data. But the majority of firms aren’t digital natives. These more “traditional” companies spend far too much time muscling data, and they have not yet baked data into their economics.
If data is currency and has value, companies need a way to think of pricing (if data will be monetized among partners) or value (if data is central to an investment plan). That’s relatively easy for industries that already trade in data (e.g., advertising) but new to many. Whatever way this turns, there is no question that data has morphed from business “exhaust” to a revenue driver.
In this episode, Jennifer Belissent discusses the dynamic world of data as more and more industries go digital-first, with data becoming the fundamental fuel or currency to make it work.
Jennifer Belissent, Ph.D.