EverEdge are The Data Monetization Specialists™
Data is a core business asset and needs to be treated as such
The starting line of any data monetization journey is a simple realisation: data is the gateway to action.
The value of data comes from its ability to generate insights, which in turn enable management teams to make better decisions and take more effective actions. These actions could be anything: better targeting of customers, improved efficiencies, reduced costs, reduced risk etc. In this sense data is always a means to an end rather than an end in and of itself.
To make money from data, it isn’t enough to just understand ‘how’ to extract data from a technical perspective. You also need build a business case that analyses the potential returns, costs, and risks associated with monetizing your data to determine whether this is a path that it is worthwhile going down.
The key to data monetization is understanding how to develop a business model that produces a commercial outcome that in turn generates value either directly for you – or for a third party that is prepared to pay you for that value.
This is where EverEdge comes in. EverEdge are the Data Monetization Specialists.
Types of Intangible Assets
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Returns from data monetization will be heavily dependent on context, cost, and risk. Therefore, it is critical that you start your journey by building a viable business case, prior to spending money on the technical challenges associated with data extraction. This is basic business common sense.
Think about it: if your company owned a vacant plot of land, no-one in their right mind would decide to develop the land (monetize the asset) without first working out what the potential return was, the costs involved in the development and the risks involved.
Data is no different, yet many Australian companies fail to implement this basic step and charge off to monetize their data without even understanding basic issues such as what the data is likely to be worth.
EverEdge can help you assess the business use cases for data, including providing an accurate valuation of ROI for each scenario.
To get access to our latest research on making money from data, enter your details below. Or, to chat to our team, simply click the button to schedule a complementary consultation.
Making Money From Data
How to make money from data
To make money from data, ask yourself:
What insights can be derived from this data?
How can these insights be used by our own organisation or an external party to make decisions and take actions that generate value?
What are the potential returns, costs and risks associated with taking those actions?
This last question is critical because not every data driven action will have a positive outcome, sometimes the monetization of the data simply does not exceed the cost and risk involved. Unfortunately, too many companies get “data heat” and charge into data monetization initiatives without stepping back, taking a breath, and doing a clear-headed analysis of cost, benefits, risks, and most importantly value.
If you are embarking on a data monetization journey, EverEdge can help you develop, analyze and value the business use cases.
We engaged EverEdge to provide us with a specialist valuation that reflected the true value of our business and the intangible assets we had developed through many years of R&D.
EverEdge’s valuation will be a critical tool as we look to grow our business and seek further investment.
Mark Roe - CEO
I strongly recommend EverEdge to any company involved in M&A or capital transactions that call for valuation or assessment of intangible assets.
Their advice was insightful, professional and decisive.
Grant Webster - CEO
Tourism Holdings Ltd (NZX: THL)
We engaged EverEdge to assist us in developing an intangible asset strategy that would complement our existing operations and business plan… EverEdge delivered a framework, tools and invaluable advice that will no doubt have a material change on our valuation when we seek to exit the business.
Tim Fussell - Founder and CEO
EverEdge helped us identify how we could strengthen our intangible asset position to unlock value and drive revenue from our assets.
We are now working on a clear intangible asset strategy to continue building our business.
Nikhil Joshi - COO
…We needed to understand what constitutes Intellectual Property and Intangible Assets and develop a clear strategy to be able to protect these in the future… we gained valuable insights into areas that needed to be looked at within our overall Business Strategy
Nikki Tse - Co-founder & Director
We recently completed the ‘Foundation – Intangible Asset Strategy’ program.
There is no question that if you are wanting to understand the true value of your business, then recognising what your intangible assets are and how to protect them, is critical.
The final report we received is of high quality and has given us a clear roadmap to follow.
Chris Baird - CEO
We engaged EverEdge to help us unlock value and mitigate risk around our intangible assets.
EverEdge conducted an audit of our assets and then helped us to develop an action plan to ensure our intangible assets are driving value, are correctly and cost-effectively managed, and that any risks relating to these assets have been identified and mitigated.
We would highly recommend EverEdge to any company that wants to better utilise and manage their intangible assets.
Geoffrey Heber Founder and Director
Extremely impressed with the work that EverEdge did for us.
Their work and process is amazing at uncovering the hidden value inside our business and giving us a roadmap to leverage our intangible assets.