Data Monetization Survey

Question Title

* 1. Has your organization developed and/or actioned a data monetization strategy?

Yes, we’ve successfully launched multiple data monetization initiatives

Yes, we’ve successfully implemented 1 data monetization initiative

No, but we’re in the process of prototyping/piloting our first

No, but we plan to launch our first initiative within the next 24 months.

No, but monetizing data is a long-term goal

No, not a priority

Question Title

* 2. If yes, what type of data monetization initiatives is your company currently running? (select all that apply)

The use of data to develop new products, services & customers

Data Wrapping - we’ve embedded customer analytics into our products

The use of data to optimize business performance & operational efficiency

Direct sale of data to third parties

N/A

Question Title

* 3. What about future projects? What types of data monetization initiatives does your company plan on launching over the next year? (select all that apply)

The use of data to develop new products, services & customers

Data Wrapping - we want to embed customer analytics into our products

The use of data to optimize business performance & operational efficiency

Direct sale of data to third parties

N/A

Question Title

* 4. What are the top 3 most valuable types of data for your company?

Transactional customer data

Customer demographics

Customer Interaction data

External consumer data and trends

Marketing & brand data

Supply chain data

Social media data

Product data

IT data

Internal finance data

Employee & HR data

Manufacturing data

Process data

Industry or market data

Other (please specify)

Question Title

* 5. What have you gained from your data monetization efforts? Select all that apply

Increased revenue

Improved customer experience

Improved customer loyalty

Access to better customer insights

Business resiliency & agility

Competitive advantage

Personalized and localized marketing capabilities

Enhances existing products

New service or product development

Market expansion

Increased operational efficiency

Building new business models

Improved benchmarking capabilities

Differentiate from or outperform the competition

N/A

Question Title

* 6. In what area does data monetization add the most value?

Sales & Marketing

Supply Chain & Logistics

Manufacturing

Product Development & Design

Customer Experience & Loyalty

Finance & Accounting

Other (please specify)

Question Title

* 7. Looking forward over the next 2 years, where do you see data monetization adding the most value down the line?

Sales & Marketing

Supply Chain & Logistics

Manufacturing

Product Development & Design

Customer Experience & loyalty

Finance & Accounting

Other (please specify)

Question Title

* 8. What are the top 3 biggest challenges you face with your data monetization approach?

Accurately assessing the value of data

Data quality issues

Data access issues

Data capture issues

Lack of business case

Outdated or lacking IT infrastructure

Outdated or lacking data architecture

Cross-functional silos inhibit collaboration

Data privacy concerns

Data security concerns

Data governance issues

Regulatory concerns

Data storage issues

Data verification issues

Securing customer consent

Data scalability

Budget limitations

Can’t find the right data monetization solutions

Gaining access to external data from vendors and other partners

Productizing data

Question Title

* 9. Do you expect your final, approved budget for data monetization to increase next year?

Yes

No, I expect it to stay the same

No, I expect it to decrease

We are not investing in data monetization now or next year

I don’t know

Question Title

* 10. What are the top 3 technological tools your organization relies on to enable data monetization?

Question Title

* 11. What percentage of your final, approved budget do you expect to devote to data monetization efforts?

Less than 5%

6-25%

26-50%

51-75%

More than 75%