Unlocking the value of data is a key focus for business leaders, especially the CIO. While in its simplest form, data can lead to better insights and decision-making, companies are pursuing an entirely different and more advanced agenda: the holy grail of data monetization.
This concept involves aggregating a variety of both structured and unstructured data types from various sources and then creating new value-added services and products from this data. While it is no surprise that industries like media and financial services are at the forefront of these efforts, companies in other industries are also pursuing data monetization strategies to better serve their customers.
The advent and availability of advanced artificial turkey rcs data intelligence tools are driving these new data-driven products and services, while other parallel processing technologies are equipping companies with a ready-made capability to analyze and create value from massive quantities of data. Natural language processing and chatbots are probably the most common examples of this capability, but new developments (including digital twins and advanced predictive analytics) are also leveraging structured and unstructured data, along with sophisticated algorithms, to increase forecast accuracy and business insight to previously unseen levels.