Data monetization is the process of generating measurable economic benefits from the use of data. It involves transforming raw data into valuable insights, products, or services that can be sold or leveraged for strategic advantages. In the context of interconnected devices and systems, data monetization highlights the potential for businesses to harness data generated by the Internet of Things (IoT) to create new revenue streams and enhance decision-making processes.
congrats on reading the definition of data monetization. now let's actually learn it.