This document discusses strategies for effective data monetization. It outlines challenges in data monetization like the increasing volume of data and the need for AI. It presents a data monetization maturity model and describes the top 5 best practices for successful data monetization as: getting the foundation right by infusing AI/data science; focusing on people like data engineers and scientists; constructing a robust business model; and ensuring trust and ethics. The document recommends using case generation and prioritization and provides industry examples. It promotes IBM Cloud Private for Data as an integrated analytics platform to overcome challenges and realize the benefits of data monetization.