Luiz Neves outlines an approach for building data products for industries. The process involves 1) collecting data from the target industry, 2) merging relevant external data, and 3) selling the aggregated data back to the industry in the form of tools. Key differentiators of this approach include exclusive access to industry data, aggregation of related data from multiple sources, and creating tools to address important industry goals or challenges. Successful implementation requires identifying relevant data sources, industry needs, and utilizing skills in data science, web development, creativity, and industry insight.