Proof Point
High-performing businesses monetize data by adding new services to existing offerings and developing new business models, according to 2017 McKinsey study
How Companies Create New Business to Monetize Data
2017 (percentage of respondents)
| Note: | Based on McKinsey’s survey of 530 C-level executives and senior managers globally, representing full range of industries and company sizes. High performers are organizations with annual growth rates of 10% or more for both organic revenue and EBIT over the past 3 years. Respondents who answered others or don’t know are not shown. |
Proof Point Findings
- Data Monetization – Four in ten organizations are already monetizing their data assets, according to McKinsey survey
- Enhanced Offerings – Adding new services to existing offerings named as top strategy for monetizing data for respondents
- Other Strategies – High performers also more likely to develop new business models and partner with other companies to create a data mart where they pool data
- Key Growth Drivers – Include growing demand and value of consumer data, intensifying competition, and heightening consumer need for personalized services
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Accelerator |
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Business Model and Practices Business Model |
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Sector |
Cross-sector
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Function |
Customer Experience and Service, Research and Development
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Source |
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Date Last Updated |
January 31, 2019
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