Coherent Market Insights
Data Monetization Offers Several Benefits Such As Increased Revenue through Automated,
Real-Time Processes, and Targeted Marketing
Data monetization, a broad term, can refer to both the process of creating
measurable financial rewards from already available data resources. Less frequently,
however, it can also refer simply to the practice of monetizing data services, such as
those offered by content management systems. This form of monetization is
increasingly popular among many businesses, as its main selling point - increased
revenue through automated, real-time processes - proves to be well worth the effort.
Other benefits include, improved decision-making, more timely (lower latency)
decisions, more granular decisions, and targeted marketing. With these services,
businesses can reap greater revenue from a wide variety of online and offline
activities, through a variety of different channels:
As already noted, one of the most common methods of data monetization is the
creation of a 'customized, tailor-made' analytics platform. These platforms are created
by experts in the field, using specific programming languages. The software creates
reports, which are then sent to all company departments, for analysis. Some of these
advanced analytics platforms are provided by third party companies, others are
internally-designed and maintained by the company. The two general types of
analytics platforms are: web-based (RDF) and bi-platform.
Coherent Market Insights
RDF is a general term that can describe a number of different patterns in the
creation and use of rich domain modeling language (RDF). It is a superset of the
more mature MDF language and is used, among others, for the construction and
management of domain models. Unlike traditional databases, RDF does not provide a
programming language. Instead, it provides constructs for representing information,
much like XML syntax. While RDF certainly has the potenti