Industry Examples

Here are clear examples of use cases from different industry sectors that exemplify the opportunities of data monetisation:

Healthcare

Imagine the healthcare sector that collects vast amounts of patient data from electronic medical records, wearables, and other sources. By leveraging this data, the sector could create sellable data products such as disease trend analysis reports, drug efficacy studies, and health risk assessments. Additionally, the sector could develop data-driven insights that improve patient outcomes, reduce readmission rates, and even predict potential health issues before they occur.

Transportation

Logistics companies collects data on shipping routes, weather conditions, and vehicle performance metrics. By leveraging this data, the company could create sellable data products such as route optimization software, freight analytics tools, and real-time shipment tracking services. Additionally, the company can optimize its operations to reduce costs, improve delivery times, and minimize environmental impact.

Retail

Major online retailers collects data on customer browsing and purchase behavior across multiple channels, such as their website, mobile app, and social media platforms. By analyzing this data, the retailers could develop sellable data products such as market trend reports, consumer behavior studies, and demand forecasting tools. Additionally, the retailers can deliver highly personalized recommendations and promotions to individual customers, increasing their conversion rates and customer lifetime value.

Finance

Banks collects data on customer transactions, loan repayment behavior, and credit scores. By analyzing this data, the bank could create sellable data products such as credit risk assessments, market trend reports, and consumer behavior studies. Additionally, the bank can develop customized financial products and services that meet the unique needs of individual customers, such as personalized investment recommendations or tailored loan terms.

Energy

A utility company collects data on energy consumption patterns, weather conditions, and equipment performance metrics. By leveraging this data, the company could create sellable data products such as energy usage analytics tools, renewable energy feasibility studies, and energy efficiency assessments for businesses and households. Additionally, the company can optimize its operations to reduce energy waste, lower costs, and minimize environmental impact.

Manufacturing

A manufacturing company collects data on production processes, quality control metrics, and supply chain logistics. By analyzing this data, the company could create sellable data products such as predictive maintenance software, supply chain analytics tools, and manufacturing process optimization services. Additionally, the company can identify areas for process improvement, reduce waste and defects, and increase overall efficiency.

The above use case examples highlight the opportunities for data monetisation across various industries, including healthcare, retail, transportation, finance, energy, and manufacturing. By leveraging your data assets, you can create customer value, optimise your operations, and stay ahead of the competition. Contact us today to learn how our strategic advisory services can help you achieve these goals.