Data Monetization Strategy: Creating Value Through Data

Data — and the insight it yields — can be a company’s most important asset in a digital economy. Although most organizations now have access to vast amounts of data, the challenge lies in realizing its full potential. In a highly competitive environment, companies that find ways to monetize data often lead the way in their industries.

The Data Monetization Strategy: Creating Value Through Data online short course from the MIT Sloan School of Management will equip you with a comprehensive understanding of how organizations can create, measure, and maximize economic value from data. By leveraging the I-W-S framework — three approaches developed by the MIT Center for Information Systems Research (CISR) — organizations can generate financial value by improving the use of data, wrapping products with analytics features and experiences, and selling information solutions. Learn from esteemed MIT faculty as you learn to identify and prioritize data opportunities, build organizational capabilities, and maximize data monetization outcomes across the organization. On completion of this course, you’ll leave with a personalized toolkit to enhance your organization’s data monetization outcomes.

This program explores how organizations can create financial value from data, and the importance of actively pursuing data monetization. Led by Faculty Director Dr. Barbara Wixom, a principal research scientist at the MIT Sloan Center for Information Systems Research (CISR), participants will investigate the I-W-S framework. This method approaches data monetization in three ways: improving core business processes using data, ‘wrapping’ analytics around offerings, and selling information solutions. Participants will also study the five data monetization capabilities — data assets, data platforms, data science, acceptable data use, and customer understanding. They’ll leave the program with a personalized data monetization strategy suited to their organizational context.

Learn more about the self-paced online experience.

Learn more about GetSmarter technical requirements.

The recommended weekly time commitment for core content is 4-5 hours, taking into account the busy lifestyles of working professionals, with an additional 2-3 hours recommended for non-compulsory weekly extension activities, should you have the time. Each module is released weekly, allowing a flexible but structured approach to learning. You’ll be supported as you engage in individual activities and group discussions, ensuring you feel confident to submit your best work at each weekly deadline.

Upon successful completion of your course, you will earn a certificate of completion from the MIT Sloan School of Management. This course may also count toward MIT Sloan Executive Certificate requirements.

In this course you will learn to:

• Convert data into value: Gain a comprehensive understanding of how to monetize data, and explore the associated opportunities and challenges of data-based value creation.
• Explore monetization strategies: Find out how data monetization frameworks and strategies can maximize the financial value of an organization’s data assets.
• Learn from data experts: Learn how companies are generating economic returns from data monetization activities in order to execute your own value-driven processes.

The growing importance of data as a business driver has created a need for business leaders to see its potential, understand how to implement a strategic approach, and better leverage data and analytics in their organizations for strategic advantage. This course is designed for data-driven business and analytics leaders — chief data officers, chief information officers, chief technology officers, chief analytics officers, and chief data architects — who want to elevate their strategies and problem-solving abilities. Owing to its relevance to the vast majority of organizations and sectors, working professionals across titles and responsibilities will also gain the skills they need to monetize data and improve organizational processes. These roles include data, information, technology, and analytics presidents. Technology, data, and information managers and directors will also benefit from the practical frameworks explored during the course, acquiring tools that will elevate their existing knowledge.

GetSmarter™, a brand of 2U, Inc., partners with the world's leading universities to select, design and deliver premium online short courses with a data-driven focus on learning gain.

Technology meets academic rigor in our people-mediated model which enables lifelong learners across the globe to obtain industry-relevant skills that are certified by the world’s most reputable academic institutions.