Data Monetization Market Growth Primarily Relies on Adoption of Artificial Intelligence and Data Analytics

Data monetizing can mean different things to different people. It can refer to the act of creating tangible financial benefits from already available empirical data resources (stats); it can also refer to a system by which monetary benefits are derived from quantitative data (e.g., pricing models) or by using AI and Data Analytics.

Solutions and products in the data monetization market can be leveraged by a business through a number of different means, including its ability to generate revenue from existing metrics that are not directly monetizable (such as customer surveys or loyalty programs) or from new forms of data that are not readily available for sale as a commodity (such as location-based services).

The term "data monetization" is often used in a generic sense, to refer to any method of turning monetizable information into cash flow for an organization. A number of companies have used various concepts in the data monetization market to create new revenue streams from existing metrics. For example, Adobe has leveraged its digital photo editing software to create space for on-demand photo rentals via its online Picasa service. Similarly, LinkedIn has leveraged its professional network by enabling its members to monetize their profiles via their own profile pages, and Google has used its AdSense ads to monetize its AdSense content by re-users' activity on the main pages of its websites.

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There is a tension between direct selling and data monetization. On one hand, direct selling revolves around products and services that are not yet measured economically. These goods and services are sold to individuals directly, and do not involve production that could be measured. Data monetizing, on the other hand, makes sure that profits are maximized by the sale of financial or non-financial value to an entity. This value could be directly measured or indirectly.

Products and services in the data monetization market have made their way into the field of environmental economics. Economics refers to the study of value creation from environmentally relevant activities. A good example of such a field is the use of abatement to decrease the cost of maintaining a property such as a neighborhood park. An abatement specialist rent's time to clean up the property, while simultaneously generating income from the rental fees paid by citizens, and then utilizes this rent to offset costs associated with maintaining the park.

In the context of the data monetization market in the financial domain, firms will be looking to capture global value through a variety of methods. The concept is relatively simple: firms will sell financial or non-financial products and services to consumers on a global basis. While most of these products and services relating to finance and banking, there are five forces that impact the way that firms view the potential for growth provided by their global partnerships. These forces include customer demand, government policy, the quality of products and services provided by the partner company, and the infrastructure of the global data monetization market. The five forces are what are referred to as the "troughs," which is the difference between the amounts of income generated from a partnership at the state of the market compared to what it would generate if it were at full capacity.

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