Got “IoT” data? Struggling to figure out to turn all that sensor data into “moola”? My colleagues Ted Friedman, Doug Laney, and I just published some really useful and impactful research to help organizations monetize their Internet of Thing (IoT) data. “Prepare to Monetize Data From the Internet of Things” provides a 7 step approach to help organize, plan, and execute a data monetization strategy and highlights real-world examples of companies across different industries doing it today.
Monetizing data is part of the larger trend toward what Gartner calls “infonomics,” the discipline of attributing economic significance to information. Infonomics provides the framework that business needs to value information, manage it and wield it as a real asset. Businesses that measure information’s productive utility can make more intelligent investments in information-related initiatives. Those that know how to monetize their information assets can outperform their competition by using information to reinvent, digitalize or eliminate existing business processes and products.
IoT data contains incredible potential in terms of providing better insights about customers and behaviors, products and capabilities, and how customers interact with connected products and the world around them. Yet, the tremendous opportunity to generate economic value from all this collected data is being missed by most organizations embarking on the IoT journey. A key goal of most IoT projects should be to figure out how to monetize the data assets. The reality is that it requires preparation and new approaches. If you want to understand how to turn your IoT data into an money-generating asset instead of a liability, our latest research “Prepare to Monetize Data From the Internet of Things” is a must read.
Read Complimentary Relevant Research
Securing the Internet of Things
IoT creates a pervasive digital presence connecting organizations and society as a whole. New actors include data scientists; external...
View Relevant Webinars
The 2018 CIO Agenda: Mastering the New Job of the CIO (Americas)
As digital business scales, the "job" of CIO must evolve to foster this expanding growth. CIOs must do more than just deliver services...
Comments or opinions expressed on this blog are those of the individual contributors only, and do not necessarily represent the views of Gartner, Inc. or its management. Readers may copy and redistribute blog postings on other blogs, or otherwise for private, non-commercial or journalistic purposes, with attribution to Gartner. This content may not be used for any other purposes in any other formats or media. The content on this blog is provided on an "as-is" basis. Gartner shall not be liable for any damages whatsoever arising out of the content or use of this blog.