Advantages to monetized data

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In order to fully realize the monetary value of your digitized assets, and essentially find and maximize your opportunities in the online marketplace, the customer viewpoint holds the key. With countless large scale digitization projects underway, we no longer want open access to everything, we expect it. Therefore, the customer’s viewpoint is critical to the monetization process, and to the assignment of value to your data.  To use an everyday example, if I want to try a new restaurant for dinner, I simply type “seafood” and my zip code into any search engine on my laptop or phone, peruse pages of restaurant listings, and those with websites for menu items, pricing, and location, and then use the GPS in my car (or on my iPhone) to quickly and almost effortlessly navigate to the restaurant. Within minutes, any restaurant in my zip code, with an online presence had the opportunity to win my business, and generate new unexpected revenues.

Advantages, from your customer’s viewpoint include: No physical boundary – more access, by more prospects, at the same time, from anywhere, as long as Internet access is available. No time constraint – around-the-clock access, regardless of time zone, time of day, or time. No waiting – shared access, by countless prospects, at the same time. Intelligent retrieval – unlimited access to all data, by accessing one element. “…soon it will be technologically possible for an average person to access virtually all recorded information.” – Peter Lyman and Hal Varian, Information scientists at the University of California, Berkeley.

Blog Quote Reference: Akst, Daniel. (2003). The Digital Library: Its Future Has Arrived.

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