There is much talk about the commercialization of Big Data. Many understand its benefits, but there is a lack of awareness on how it actually happens. Some organizations join the Big Data game with misconceptions that it is a simple, easy, and quick implementation and have no real strategy in place to derive value from the data. The truth is that there is a disconnect between Big Data expectations and reality.
Our industry continues to see an ongoing upsurge in data volumes. This comes with the insatiable need by industry leading companies to exploit existing data to foster business development and growth. We can see the data economy expanding as the many barriers that hinder and impede its progress are torn down.
Based on the price of your data product that you have determined in part 3, you will now be able start offering your data product to the market. In this final part of the series, we discuss how to market and deliver your product to your consumers.
Based on the structure and characteristics of your data product that you have determined in part 2, you will now be able to assess the cost to make your data available for sale. This cost serves as a price floor and gives you a starting point for pricing your data product.
After you have identified data assets to be commercialized in part 1, you can begin structuring your data product. This involves processing your data in order to comply with international privacy laws and information security policies of your organization.
