Driven by the potential market for data and analytics-based insights, executives in almost every sector of business and industry are seeking to make money by selling the data they collect onto other companies - a process sometimes called “external data monetization”. But selling data is not a simple proposition.
These executives have many questions about launching an information and insights business. Most see its potential, but few know how to assess how great it is. They are divided over whether such a business represents a true growth opportunity or is just a chance to earn some extra revenue on the side.
Many are wrestling with the question of value: what information do they need to keep private for strategic or operational purposes, and what they can profitably sell without surrendering key advantages? And, since a good deal of data is customer data, there is plenty of concern regarding privacy rights and legal challenges.
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