What is Data Monetization?
Data monetization is the practice of identifying and realizing the value of data generated by retail operations to create alternative revenue sources distinct from the sale of products.
Why is Data Monetization important?
Retail operations such as shopper loyalty programs, supply chains and e-commerce businesses generate large volumes of data. As these data volumes have grown so has the ability of sophisticated technology to uncover high value insights that are mutually beneficial to trading partners. Through data monetization, retailers can facilitate collaboration, increase sales, expand margins, drive shopper loyalty and improve supply chain efficiency while generate alternative revenues and co-creating value with partners.
