Published on : Oct 16, 2019
Albany, New York, October 16, 2019: Consumer data monetization is practiced as a competitive method by innovative companies seeking new paths to success. Technological advancements in analytics and big data have initiated a new era of competition that utilizes consumer data to enhance decisions.
The major levers of monetization of customer data consist of customer intimacy, risk management, operational efficiency and new revenue models. Customer intimacy involves engagement with end customers to gain their behavioral insights to provide better customer experience. Operational analytics across customer engagement value chain increases profitability and cost effectiveness. Risk management of data and analytics cuts down unnecessary costs. New revenue models capable of converting data into assets keep surfacing as new channels of revenue growth.
Geography-specific data valuable
Digital technologies have facilitated personalized communication and real-time data analysis. Mobile operators have majorly benefitted from changing data market by micro segmenting customer data and learning valuable customer information regarding mobile website and other application usage. Geography-specific data is invaluable to operators and service providers in mobile world as it enhances their internal system, stems attrition and drives loyalty programs.
An intelligence report titled, “Monetization of Customer Data: Perspectives and Beyond” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.
New paradigms achieved
Major trends and shifts in data industry include data acquisition, data processing & storage, data consumption, data recovery, data governance and maintenance. These trends give platform to new paradigms that can be attained in monetization of customer data. New paradigms include data acquisition with help pf IOT in real-time, on demand data availability on cloud, agile processing of end points without IT intervention, discovery of new hypothesis and opportunities in data discovery, and highly customized and contextualized data availability.
Implementation of any strategy in monetization of customer data includes various steps such as strategy making, planning, mobilizing, delivering and launching. Main strategy to penetrate target industry and ecosystem is created and a road map for its implementation is planned. This plan is mobilized through data sourcing and sales operations. The final output is delivered in form of visualizations, customer testing and feedback. Launch is the final step that involves marketing and PR to achieve the target.
Monetization of customer data: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Monetization of customer data. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Monetization of customer data. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on monetization of customer data.
An insightful and deep-dive assessment of the competitive assessment of the Monetization of customer data pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Monetization of customer data. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Monetization of customer data: Research Methodology
Primary sources and secondary sources propel intelligence report on Monetization of customer data that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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