8 - Pattern 1: Basic Data Sales
How repackaging waste contributes to the bottom line
One of the simplest ways to monetize data is by simply selling it. The predisposition from which this monetization arises is that the company owns data that third parties are willing to pay for. The business model is simple: dollars for data. Although in some cases, data will need to be analyzed, repackaged and relabeled before it can be sold as product. Years ago, when I first proposed to an organization that it could resell its data, its senior management thought the idea to be preposterous. A company simply couldn’t go about selling its data. I told them the following story.
Some time in the 1990s, a Norwegian company called Hydro Agri was leading the global ...