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Big data infrastructure: The path to monetization

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Author: Ritika Puri, a self-described entrepreneur and people-lover immersed in tech

 

The customer-facing value of big data is self-evident. With the right information, companies can optimize their infrastructures to build closer relationships with audiences and deliver targeted experiences. Over time, these efforts will yield tangible revenue benefits.

 

When it comes to your big data infrastructure, however, there's more to the monetization story. With the volume of information that organizations are actively and passively collecting, IT leaders are gaining opportunities to create new business units and profit streams.

 

Colin Mahony, VP and GM of HP Vertica, says, "I have a lot of examples of customers who have leveraged our technologies not only to disrupt the industry, but to actually create entirely new industries altogether."

 

Here are three creative ways that organizations are monetizing their big data infrastructure to do just that.

 

navigating the big data maze

1. Pioneering new markets

Big data infrastructure is still in its infancy. The proliferation of information has given rise to new needs and market opportunities. Innovative organizations can overcome these gaps, and in turn, create opportunities. Zynga is one example of a company that used big data to transform online gaming experiences. As Mahony puts it:

 

"The way they used their analytic platform was to watch everything that happened in the game, understand the behavior of every single player and then tailor the individual gaming experience to each individual player."

 

This learning process enabled Zynga to build a new category of games driven by analytics and personalization.

 

  2. Uncovering licensing opportunities

No matter how much data organizations are collecting, there will always be gaps in actionable information. But by collecting more data, companies can create opportunities to discover new monetization streams from existing resources.

 

"Agility around IT is a key enabler that allows companies to shake up their own development of new market opportunities and products," says Joachim Frank, VP of HP Technology Services – Flexible Capacity. "It's how organizations can get into the market quickly, win customers and gain market share."

 

One industry to emulate is digital advertising. In connecting advertisers, publishers, and audiences, ad tech giants have amassed a wealth of user data, which they are then able to license as an additional monetization opportunity.

 

  3. Implementing services

New technologies create major learning curves. Mark Linesch, VP of Strategy and Portfolio Management at HP, points out that some of the most innovative companies can have too many IT resources trapped in legacy systems.

 

"Take healthcare as an example," says Linesch. "It's ripe for new ideas, new disruptions and digital technology, even though it's complex and highly regulated."

 

Among technology vendors, a services arm will be instrumental in helping companies transition to the new style of business. This interpersonal layer will facilitate success in the adoption of services while empowering organizations to learn from customers directly. When it comes to new business opportunities, there are more questions than answers. Don't be afraid to iterate and experiment with new strategies.

 

To be an effective game changer it's critical to realize that leaders are not inclined to be complacent. They, in fact, continually seek out new ways to use new technology to solve business problems. The Insights: 2015 Infrastructure Imperatives eBookprovides insights on what sets these digital leaders apart from their lagging peers. If you want to differentiate your business through the use of IT – read the report to see how HP can help you improve your customer's experience and in the process exceed your own expectations.

 

Bookmark HP Infrastructure Insights to get the latest updates on HP and the new style of business.

 

Insights: 2015 Infrastructure Imperatives eBook

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