How to generate economic value from data for your business
Data is increasingly referred to as “the new oil,” but it actually has economic properties that make it much more valuable than traditional assets. Leading companies know this and take advantage of it. Now you can learn how too.
Join expert Doug Laney, Principal Data Strategist at Caserta, to explore how to take advantage of data’s unique features in ways that help you monetize data for your organization. You’ll learn the variety of different ways to generate value from data, including a variety of real-world examples. In addition, the workshop will help participants understand how to take a product management approach to monetizing information that enables you to measure the results, along with options for packaging and pricing data assets.
What you'll learn-and how you can apply it
By the end of this live online course, you’ll understand:
- Data’s unique economic advantages compared to other business assets
- How to implement a disciplined approach to your data monetization initiatives
And you’ll be able to:
- Conceive of new innovative ways to monetize data for your organization
- Measure the financial benefits data generates for your organization
This training course is for you because...
- You want to learn more about the value of data, and you may want to become a chief data officer.
- You’re a data and analytics leader within your organization.
- You work with business leaders within your organization to help them do more with data.
- Read Infonomics (book)
- Read How to Monetize Your Data (book)
- Read Monetizing Your Data (book)
- Read The Care and Feeding of Data Scientists (report)
- Read Fifty Years of Data Management and Beyond (report)
- Read Business Decision Making, Second Edition, 2nd Edition (book)
- Watch Strata Data Conference 2019 - London, United Kingdom (video collection)
- Read Data Professionals at Work (book)
About your instructor
Doug Laney is principal data strategist with the data and analytics consulting firm Caserta. Previously, he was a distinguished analyst with Gartner’s chief data officer research and advisory team, where he was a three-time recipient of the annual Gartner Thought Leadership Award, andcolaunched and managed the Deloitte Analytics Institute. Doug has been published in the Wall Street Journal, Forbes, and the Financial Times and guest-lectured at major business schools around the world.. He was recognized as one of the “7 big data influencers you should know” and one of the “Top 10 influential data leaders to follow.” Doug also teaches Infonomics and Business Analytics Executive Overview as a visiting professor with the University of Illinois Gies College of Business and is a best-selling author. He originated the field of Infonomics—the discipline of treating information as an actual corporate asset. His book on the topic, Infonomics: How to Monetize, Manage, and Measure Information for Competitive Advantage, was selected by CIO Magazine as the “Must-Read Book of the Year.”
The timeframes are only estimates and may vary according to how the class is progressing
Infonomics overview (20 minutes)
- Lecture: The virtuous data value cycle: measuring, managing, and monetizing information as an asset
- Group discussion: The unique economic aspects of data
Reasons for monetizing data (20 minutes)
- Hands-on exercise: What are the hard and soft benefits to your organization?
- Group discussion: Exercise results
Methods for monetizing data (20 minutes)
- Lecture: Eight methods of data monetization
- Group discussion: Which methods are the most important to your organization?; Why is one method is more important than another?
Break (5 minutes)
Data monetization examples (20 minutes)
- Lecture: A dozen (or more) data monetization examples
- Group discussion: What are the common themes among these examples?
Data monetization approach (20 minutes)
- Lecture: Overview of the steps to create a data product or solution
Wrap-up and Q&A (15 minutes)