HOW TO MONETIZE YOUR DATA

Presented at Recotech 2020 https://recotech.fi/program2020/

Transcript

1. HOW TO MONETIZE
   YOUR DATA
   JARKKO MOILANEN, Chief Operations Officer Platform of Trust
   API Economist (2014-2018)
   PhD in Information Science, 2017
   PhD in Economics in progress: Data Productizement Process and Tools
   

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2. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS @Jarkko_Moilanen
   Value of the European
   Data Economy
   Value of the European
   Data Market
   The marketplace where digital data is exchanged as
   “products” or “services” as a result of the elaboration of
   raw data.
   The Data Economy measures the overall impacts
   of the data market on the economy as a whole.
   2025
   €1,054 billion
   2025
   €142 billion
   https://ec.europa.eu/digital-single-market/en/news/building-
   data-economy-brochure
   Emerging public data economy
   Data as a commodity
   Data as a Product
   

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3. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS @Jarkko_Moilanen
   Data Monetization
   refers to the process
   of using data to
   obtain a quantifiable
   economic benefit
   

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4. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS
   Data Economy requires Productized
   data (products) and access (APIs)
   @Jarkko_Moilanen
   The added value is in the data which is packaged into easy to
   understand, buy and consume data products.
   Consumers are not buying APIs. APIs provide modern access to
   discover, purchase and consume given data products.
   It’s all about ecosystem driven trusted
   data value chains
   

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5. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS
   Data Product
   @Jarkko_Moilanen
   Pricing options Subscribe Unit based
   Data Stream options Current values History Prediction
   Trust 10 quality attributes
   Product information Versioning
   dataproduct.oftrust.net
   Machine-readable standard specification of data product schema. Version 0.1 published 10/2020
   Name
   Lifecycle status
   Conditions
   Singular
   Payload
   …
   …
   …
   …
   

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6. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS @Jarkko_Moilanen
   Jarkko Moilanen 2020
   DATA PRODUCT TYPES
   AND SOME DIFFERENCES
   

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7. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS
   Empowering the sales
   • Identify customer problems
   • Better product presentations
   • Improve customer service and
   • Use more tailored sales
   argumentation
   Product development purposes
   • Finding flaws
   • A/B testing
   • Test need for a new feature
   • Customer behaviour
   @Jarkko_Moilanen
   Internal monetization (has been done for years)
   Identify problems and bottlenecks
   • Identify bottlenecks
   • Improve efficiency and profitability
   • Fine tune based on facts, not
   feelings
   Marketing and advertising
   • Increasing performance and
   targeting
   • End of mass marketing
   • Personal marketing
   • Targeted ads
   

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8. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS @Jarkko_Moilanen
   TREAT INTERNAL DATA PRODUCTS AS IF
   THOSE WOULD BECOME PUBLIC LATER
   Data Product Mandate – Jarkko Moilanen
   

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9. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS
   Monetize your industry value chain
   • Sell data to vendors and suppliers
   • Sell data to retailers, resellers and
   partners
   • Offer for free - strategic partners
   Selling to players outside own
   industry
   Selling insights to customers
   • About their performance
   • About markets around their products
   • Aggregate and enrich - then sell
   • Bundle with other products
   @Jarkko_Moilanen
   External monetization
   Value of the Data Market
   The marketplace where digital data is exchanged
   as “products” or “services” as a result of the
   elaboration of raw data.
   2025
   €142 billion
   Emerging public data economy
   Data as a commodity
   Data as a Product
   

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10. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS @Jarkko_Moilanen
    DATA
    PRODUCT
    EXAMPLES
    DATA PRODUCT
    Real-time Location of health care devices in
    hospital
    VALUE PROPOSITION
    Save lives, higher utilization rate, better
    customer experience
    DATA PRODUCT
    Prediction information - amount of people in
    given rooms in a group of buildings
    VALUE PROPOSITION
    Reduce CO2 footprint and heating & ventilation
    costs in buildings
    1
    2
    

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11. PLATFORMOFTRUST.NET | @PLATFORMOFTRUST | #DATALIIKKUU | #DATAFLOWS
    Dataproductbusiness.com
    

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12. PLATFORMOFTRUST.NET
    @PLATFORMOFTRUST
    #DATALIIKKUU #DATAFLOWS
    Jarkko Moilanen, Chief Operations Officer
    @jarkko_moilanen
    MAKE YOUR DATA
    WORK FOR YOU
    THANK YOU!
    

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