Scan any number of financial industry news publications and stories regarding Wall Street’s hunger for new data sets to improve alpha abound. While this might seem like a new trend, monetizing data – or the ability to turn corporate data into revenue streams – has existed for decades. But both the supply side and the demand side have changed. On the supply side, the extreme variety of data that now exists (location-based, geospatial, socio-demographic, online search trends, pricing, etc.) combined with high computing power and new digital requirements. On the demand side, to remain competitive, companies in a wide variety of industries, not just the financial sector, are leveraging data in all forms to maintain an edge or be disruptive.
During this session we’ll explore what data monetization is and the forms it can take; characteristics of data that could make it more valuable to external parties; and, key considerations in making data products available to external parties. Intellectual property, data privacy, and contractual issues will also be explored.