Data Democratization to Boost the Business Bottom Line – Results of New TDWI Best Practices Research (GMT Timezone)
Webinar Speaker: James Kobielus, Senior Research Director, Data Management
Date: Thursday, March 30, 2023
Time: 10:00 a.m. GMT
Enterprises continually seek new uses for their data to boost revenues, reduce costs, and enhance operational efficiencies.
Data democratization empowers more people to use enterprise data, including in indirect and monetization applications. For years, TDWI Research has covered this trend as implemented through business intelligence, data science, and other tools for operationalizing data analytics in everyday operations. For example, operationalization may involve embedding analytics into enterprise applications, such as marketing and fulfillment, that drive customer engagements, operational efficiency, time-to-market, and/or competitive differentiation.
Increasingly, enterprises are exploring more direct approaches for boosting the bottom-line payoff from data and analytics. Data productization is a growing practice under which enterprises use their data and data-derived assets, such as machine learning models, to build products and services that they sell or license to external customers. Data monetization refers to the direct sale or licensing of business data, analytics applications, and other data-derived assets.
For enterprises seeking to generate greater revenues from their data, cloud data marketplaces are key investments, both as channels to market but also for acquiring high-quality data and analytics assets to build into revenue-bearing solutions. Other key infrastructure for these initiatives includes cloud data catalogs, self-service data science tools, online data sharing platforms, and converged DataOps and MLOps pipelines.
Please join TDWI’s James Kobielus as he discusses the results of his most recent Best Practices Report on delivering quantitative business return on investment from data democratization, operationalization, productization, and monetization.
- Enterprise data democratization trends
- Direct and indirect ROI from data and analytics
- Emergence of data-as-a-product as a best practice
- Key infrastructure for data productization and monetization
- Pivotal role of cloud data marketplaces and online exchanges in productizing and monetizing data and analytics
- Governance processes that are essential for high-quality data and analytics monetization
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