Data Is Everybody's Business The Fundamentals of Data Monetization

by Wixom, Barbara H.; Beath, Cynthia M.; Owens, Leslie

• ISBN13: 9780262048217
• ISBN10: 0262048213
• eBook ISBN(s): 9780262375351
• Format: Hardcover
• Copyright: 2023-09-26
• Publisher: The MIT Press
• More Book Details
• Purchase Benefits

Summary

A clear, engaging, evidence-based guide to monetizing data, for everyone from employee to board member.

Most organizations view data monetization—converting data into money—too narrowly: as merely selling data sets. But data monetization is a core business activity for both commercial and noncommercial organizations, and, within organizations, it’s critical to have wide-ranging support for this pursuit. In Data Is Everybody’s Business, the authors offer a clear and engaging way for people across the entire organization to understand data monetization and make it happen. The authors identify three viable ways to convert data into money—improving work with data, wrapping products with data, and selling information offerings—and explain when to pursue each and how to succeed.

Key features of the book:
•       Grounded in twenty-eight years of academic research, including nine years of research at the MIT Sloan Center for Information Systems Research (MIT CISR)
•       Definitions of key terms, self-reflection questions, appealing graphics, and easy-to-use frameworks
•       Rich with detailed case studies
•       Supplemented by free MIT CISR website resources (cisr.mit.edu)

Ideal for organizations engaged in data literacy training, data-driven transformation, or digital transformation, Data Is Everybody’s Business is the essential guide for helping everybody in the organization—not just the data specialists—understand, get excited about, and participate in data monetization.

Author Biography

Barbara H. Wixom is Principal Research Scientist at the MIT Sloan Center for Information Systems Research (MIT CISR), founder of the MIT CISR Data Research Advisory Board, and faculty director for the MIT Sloan online short course Data Monetization Strategy.

Cynthia M. Beath is Professor Emerita at the McCombs School of Business, University of Texas at Austin. Before embarking on her academic career, she worked in private industry in several information systems development and consulting positions.

Leslie Owens is the former Executive Director of MIT CISR and Senior Lecturer at the MIT Sloan School of Management. Previously she was Vice President and Research Director at Forrester Research, and a manager at Abbott.

Table of Contents

Series Foreword vii
Foreword ix
Introduction: Data Is Everybody's Business 1
1 Data Monetization 9
2 Data Monetization Capabilities 25
3 Improving with Data 47
4 Wrapping with Data 67
5 Selling Information Solutions 91
6 Creating a Data Democracy 113
7 Data Monetization Strategy 129
8 Monetizing Your Data 147
Appendix: The Capability Assessment Worksheet 155
Acknowledgments 165
Notes 173
Index 185