Data monetization starts with focus on Customer engagement & Customer Journey

The key focus of data and analytics should be about data monetization. And Data monetization starts with the understanding of data usage and people who value data. Given that business drivers like inventory reduction and predictive maintenance improvement are key business metrics, data scientists and data engineers should start understanding the business drivers that attach value to data. Bill Schmarzo believes that customer engagement and operational improvement are teh key drivers for monetizing data. Bill also believes that employee learning and adaptation should also be key objectives of technology initiatives such as AI & ML. According to Bill, Data Monetization Officer role is more important than a Chief Data Officer role and the role should be cross functional directly under CEO/COO.