Connect with us


All You Ever Needed To Know About Mobile Data Monetization

All You Ever Needed To Know About Mobile Data Monetization
You might have heard about the term “data monetization” in the past and assumed that it is something related to making money from certain information. Well, yes, that is a pretty low-level description of it, but there is more to data monetization that you could gauge from just a simple two-word term!
All You Ever Needed To Know About Mobile Data Monetization

What Exactly is Data Monetization?

Data monetization refers to the process of extracting the most amount of potential revenue from a single or multiple sources of data. This is done by capturing, storing, analyzing and dissecting information from data sources.

Businesses of all shapes and sizes can take advantage of data monetization techniques to increase their overall profit and efficiency, whilst simultaneously building up brand loyalty and improving their customer experience.

What can Data Monetization be used to Achieve?

There are many things that data monetization can achieve for a business. Here are some examples to illustrate how such a method can be used to increase your firm’s profitability:

  • Mobile network operators – they can utilize anonymous usage data from their subscribers to determine, for example, what demographic of people visit particular areas, what sort of apps they tend to use, and even what times of the day they use their mobile phones;
  • Supermarkets – the types of things you purchase can be used to target you with specific promotions that you might be interested in. For example, you could receive details of special offers or coupons applicable to your spending habits, such as 10% off bakery products if you buy lots of bread;
  • Filling stations – when you fill up your car with petrol or diesel on a regular basis from a particular filling station, you could be offered vouchers that enable you to receive discounts from the automatic car wash;
  • Banks financial institutions can also leverage the information they hold on you (such as income and expenditure) to offer you financial products that you are likely to be interested in, such as loans, credit cards and savings accounts.

How can I make Data Monetization Work for me?

To take advantage of this potential profit-increasing way of targeting your customers, you will first need to know what to do! The following steps describe the general steps that you need to take in order to fulfil your goals:

  1. Identify – the very first thing you need to do is determine what sort of information you have available at your disposal. There is no point in trying to target your customers if you know very little about them (for example, they buy your products cash from a retail establishment);
  2. Store – in order to be able to do something with your data, you need to store it in a way that is easily accessible by your employees for the purposes of data extraction and mining. Many firms that deal with large amounts of data use powerful storage systems called big data appliances;

Access – once you have lots of useful data stored, you will then need to develop a way that enables you to extract and manipulate that information. Data appliances allow you to run queries on stored data much faster than you would on a normal computer system, so that you have the information you need sooner rather than later.

Continue Reading

Recent Posts

Home Improvement2 months ago

How To Add More Value To Your Home

If you have some spare cash in the bank, it is likely you would like to spend it on your...

Lifestyle2 months ago

What is a Deep Plane Facelift

Cosmetic surgery is a choice that needs a lot of research and when it comes to thinking about a facelift...

Entrepreneur2 months ago

Unveiling the Demand for Digital Marketing Courses: A Comprehensive Analysis

In recent years, the realm of marketing has undergone a seismic shift propelled by the digital revolution. As businesses increasingly...

Home Improvement2 months ago

What Does an Effective Wardrobe Spring Clean Entail?

Spring is upon us which means one thing and one thing only. It is time for the annual purge of...

Business4 months ago

Your Basic Guide To Creating A Unique Investment Blog

Starting your own blog is great and once you get the ball rolling, it can be a good passive income...

Business4 months ago

3 Low-Risk Ways To Get Your New Business Started

Once you’ve got an initial business idea and believe that it will be a success, there are some basic things...

Lifestyle4 months ago

Conquering the Co-free Zone: Tips for Thriving as a Remote Worker

Adjusting to an office environment can come with its downfalls in the sense that it might be a shock to...

General5 months ago

3 Ways To Take Control Of Your Finances Starting Now

If your finances have taken over and are bringing stress to your life, we understand just how overwhelming it can...

Travel7 months ago

Best Places To Visit In The North Of England

If you live in England, you will know there are many different places to visit for the weekend. There are...

General7 months ago

Green Home Improvement Ideas

In a world where environmental concerns are growing, the concept of “green” has gone beyond a trendy catchphrase and is...

Lifestyle7 months ago

How to Host an Unforgettable House-Warming!

The time has finally come. You have moved into your dream pad, and are officially adulting in your very own...

Autos7 months ago

A Guide to Parking Lot Striping

The journey to a well-striped parking lot begins with the right paint. In this brief guide, we’ll unravel the mystery...

Business10 months ago

Business Tips For Protecting Your Finances During A Recession

In 2023, taking the necessary steps to protect your finances for your business is now more important than ever. The...

Lifestyle11 months ago

Tips For Cleaning Your Trainers

If you’re into your trainers and streetwear, you’re likely to be very conscious of keeping them looking their best! So,...

Marketing11 months ago

Branding Trends For Start-Ups in 2023

Branding is incredibly important as it impacts how your business reaches and connects with its target market. If you’re branding...