target audience: TECH BUYER Publication date: Jun 2023 - Document type: IDC Perspective - Doc Document number: # US50744823
Monetizing Shared Data from Industry Ecosystems — Special Considerations
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Abstract
This IDC Perspective highlights that monetizing data is not a simple project, and monetizing data from an industry ecosystem brings more complexity and considerations. For an industry ecosystem, the process can be the same as for an individual enterprise. This research shows some of the ways in which working in the industry ecosystem paradigm is different.
"In addition to the benefits of shared data for use by industry ecosystem participants, there is the potential to bring in revenue from selling shared data as a service," says Lynne Schneider, research director for Data as a Service and Data Marketplaces. "Thirty-six percent of industry ecosystems are doing this today, and we only expect the number to increase," she adds.