In the past year, the world has created, captured, copied, and consumed more data than ever before and that trend is not expected to stop any time soon. The edge is a new battlefront, fueled by data. Properly arming your organization with the right solution is only a piece of a well-researched strategy. A bold new world of endpoints, connectivity, and innovation is here.
In a recent report, Applied Infonomics: 7 Practices for Chief Data Officers to Monetize Information Assets, Gartner explores a compelling case, offering the following reasons for why firms should monetize information assets:
But you’ve probably heard that before.
Chief Data Officers (CDO) and analytics leaders are viewing the data tidal wave with eyes wide open, but how can firms monetize information, and ride this opportunity to rising revenue and a buoyed bottom line? Infonomics treats information as an asset, producing a loop of management, measurement, and monetization.
We believe, Gartner suggests several ways to apply infonomics:
Network and application data improves business outcomes. For example, Extreme’s solutions allow you to to deliver granular visibility into the network and applications to optimize experiences, moving away from shadow IT and blunted visibility of traditional networking solutions. We assist in illuminating customer needs to cross the threshold of added value and monetization opportunity.
The preparation component of the process deserves underscoring, and Gartner expects that “by 2022, 90% of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency.” Additionally, nearly one-third of CFOs will be put to the task of auditing and valuating organizational information assets for improved information management and benefits. Gartner further says, “By 2022, 30% of leading organizations will formally adopt infonomics practices and value their information assets, maintaining a balance sheet for internal purposes.”
Data, data, everywhere, but not enough to monetize? No. That’s not how the saying goes…
Gartner, Applied Infonomics: 7 Practices for Chief Data Officers to Monetize Information Assets, 31 March 2020, Mike Rollings, Alan D. Duncan, Lydia Clougherty Jones