Data monetization is a powerful way to drive value from data assets. It is possible to monetize data indirectly by finding ways to reduce costs, manage risk, and improve operational efficiency. Conversely, data can be monetized by selling data, delivering data-enabled services, or building new data products. For companies to realize these data monetization goals, they will need to answer some hard questions, including:
- How do I determine the value of my data?
- How can I drive more value from my data?
- How can I master regulatory compliance and manage risk?
- How can I demonstrate the quality and integrity of my data?
- How can I share data reliably and legally?
At Definian, we help organizations discover new opportunities for monetizing their data and implement disciplined processes to help you realize your business goals. We draw on our cross-disciplinary expertise in data management, regulatory policy, and finance to help you explore data monetization use cases and implement processes that are well-governed and compliant.
Disciplined Discovery
Our five-step advisory service helps executives and other stakeholders uncover new ways of thinking about your data, build an inventory of use cases, and align your data monetization tactics with the strategic goals of your business.
Step 1: Identify Stakeholders
Step 2: Build an Inventory of Use Cases
Step 3: Develop Business Cases
Step 4: Execute Initiatives
Step 5: Realize Business Benefits
Risk Mitigation
Quickly driving value from data is attainable by understanding the impact of new and emerging regulatory requirements. Our advisory staff, many of them legal engineers, help your organization implement data monetization strategies that meet the most stringent regulatory policies—saving you time and money and reducing the risk involved in new data initiatives. We have expertise in these critical areas:
Banking and Finance
- Current Expected Credit Loss (CECL)
- Comprehensive Capital Analysis and Review (CCAR)
- Anti-Money Laundering (AML)
- Office of Foreign Assets (OFAC)
- Financial Crimes Enforcement Network (FinCEN)
- Community Reinvestment Act (CRA)
Sensitive Data Management
- California Consumer Privacy Act (CCPA)
- EU General Data Protection Act (EU GDPR)
- Children’s Online Privacy Protection Act (COPPA)
- Video Privacy Protection Act (VPPA)
Data monetization services from Definian can help you leverage data and information to increase revenues, reduce costs, and drive competitive advantage while mitigating risk.
