When deciding to monetize program effects using the data monetization helps identify potential outcomes and impacts to be monetized.
A type of monetization known as "data monetization" may be defined as the process of obtaining quantifiable economic advantages from existing data sources (analytics). It may also, less frequently, relate to the process of charging for data services.
These advantages in the context of analytics often manifest as reductions in costs or revenues, but they might also include increases in market share or corporate market value. Data monetization makes use of data produced by company operations, exogenous data or material that is readily available, as well as data related to individual actors, including that gathered via electronic devices and sensors taking part in the internet of things.
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