How to Monetize Your Data with Data Products
📊Data is the new oil.
It is the most valuable asset that businesses have. But how can you turn your data into gold?
The answer is DATA PRODUCTS✨
Data products are the next generation of data-driven applications that use data to power smarter decision-making, personalized experiences, and new revenue streams.
🔖Here are the steps involved in developing data products for monetizing data:
➤Establish a data lake
➤Ingest batch data into the data lake
➤Stream real-time events through a data stream.
➤Use the lambda architecture
➤Implement automated data pipelines.
➤Transform data into curated products.
➤Deliver data products to consumers
Some creative and smart ways to use data and show your creativity with innovation -
📍Use data products to personalize marketing campaigns
📍Making informed decisions and improve customer service
📍Use data products to make better business decisions and personalized experiences
📍Monetize and Use data products to create new products and services with more efficiency
Data products are the future of data-driven business. By following the steps outlined above, you can develop data products that can help you improve your business in a variety of ways.
👉Here's an amazing infographic by Mr. Deepak Bhardwaj that shares a holistic view of how data products can be efficiently used. It also shares a glimpse of how data flow across various modes and modules to reach the target.
#dataengineering #datascience #datamining #dataanalytics #bigdata #cloud #ai #ml #engineering #innovation
📊Data is the new oil.
It is the most valuable asset that businesses have. But how can you turn your data into gold?
The answer is DATA PRODUCTS✨
Data products are the next generation of data-driven applications that use data to power smarter decision-making, personalized experiences, and new revenue streams.
🔖Here are the steps involved in developing data products for monetizing data:
➤Establish a data lake
➤Ingest batch data into the data lake
➤Stream real-time events through a data stream.
➤Use the lambda architecture
➤Implement automated data pipelines.
➤Transform data into curated products.
➤Deliver data products to consumers
Some creative and smart ways to use data and show your creativity with innovation -
📍Use data products to personalize marketing campaigns
📍Making informed decisions and improve customer service
📍Use data products to make better business decisions and personalized experiences
📍Monetize and Use data products to create new products and services with more efficiency
Data products are the future of data-driven business. By following the steps outlined above, you can develop data products that can help you improve your business in a variety of ways.
👉Here's an amazing infographic by Mr. Deepak Bhardwaj that shares a holistic view of how data products can be efficiently used. It also shares a glimpse of how data flow across various modes and modules to reach the target.
#dataengineering #datascience #datamining #dataanalytics #bigdata #cloud #ai #ml #engineering #innovation