Monetizing Your Data

CHAPTER 16Analytical Organization: Getting Organized

As we mentioned at the beginning of the book, the explosion of information is accelerating and the next big explosion, the Internet of Things, is upon us. When our machines begin talking to each other the rate of information produced each year will go exponential. The CEO of Alphabet, Eric Schmidt, commented,

Between the birth of the world and 2003, there were five exabytes of information created. [Today] we create five exabytes every two days.

Just in case you do not know the definition of an exabyte, which we did not, it is defined as “a unit of information equal to one quintillion bytes, or one billion gigabytes.”

Organizations are capturing as much of this information as they can, trying to figure out what can be monetized and what can be discarded. Most organizations are collecting everything, assuming it will be useful eventually. This may be the right approach, but what can be done today to monetize the information you have collected?

To make sense of this amassed information, different roles are needed inside the organization to collect, codify, and monetize this abundance of information. We propose several new roles and a team structure to accomplish this challenge.

Decision Architecture Team

Our recommendation is the creation of a cross-functional team focused on monetizing the company's information assets by leveraging the Decision Architecture methodology we present in this book. This team should be organized ...