How can I make money with big data?
Six inspirational ways to make money with data Selling insights to customers. Empowering the sales force with data. Using data in marketing and advertising. Selling data to players up and down the industry value chain. Selling data to players outside your own industry. Using data to increase company valuation. Click to see full answer. Subsequently,…
Six inspirational ways to make money with data Selling insights to customers. Empowering the sales force with data. Using data in marketing and advertising. Selling data to players up and down the industry value chain. Selling data to players outside your own industry. Using data to increase company valuation. Click to see full answer. Subsequently, one may also ask, how much money can you make selling data?The data of an average American is worth between $0.20 and $0.40. Facebook has about 190 million users in the U.S., so we estimate that Facebook can make between $38 million and $76 million from selling such data points on American users.Also, how can managers use big data for their business and get the most of it? The use of big data allows businesses to observe various customer related patterns and trends. Observing customer behaviour is important to trigger loyalty. Theoretically, the more data that a business collects the more patterns and trends the business can be able to identify. Subsequently, question is, what can companies do with your data? Companies capture data in many ways from many sources. “Customer data can be collected in three ways – by directly asking customers, by indirectly tracking customers, and by appending other sources of customer data to your own,” said Hanham.Can I sell my personal data?There are several ways you can sell your data, including selling it to another company directly or joining a marketplace. You can sell your data itself or sell the insights you gain from it. Join a private marketplace: You can also join a private data marketplace where companies exchange data.
