The document outlines a guide to data monetization consisting of five steps: identifying data for product creation, structuring the product, pricing it based on value, preparing effective listings, and ensuring proper delivery and service. It emphasizes the importance of understanding market needs and competitive landscape, while also providing detailed guidance on how to create appealing product offerings. DatastreamX aids vendors in efficiently taking their data products to market.

1. Guide to Data Monetization

2. The Five Steps to Go-To-Market for Data Products
Identify Data
Structure Product
Price Product
Prepare Listing
Delivery & Service
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DataStreamX helps vendors go to market quickly & cost effectively

3. Step 1: Identify Data
To create a data product ask yourself the following questions
What data do we
collect or could collect?
What value can it
provide to 3rd parties?
What alternatives
are in the market?
Recognize what data is
available
Understand the use cases and
market potential
Assess existing and
potential substitutes
Explore all three questions to ensure market fit
Goal

4. Step 2: Structure Product
When structuring a data product you should consider:
Number of
potential use cases
to address
Ability to use
standalone or
joined
Ease of use for
analysis and
application
Assess the
commercial
application
Deliver data to power
relevant metrics for
standalone insights
Standardized file
formats with clean &
consistent data
Deliver clear insights with precisely selected variables or indexes
Goal

5. Step 3: Price Product
To effectively price data products you should understand:
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Factors affecting its appeal
Eight pricing levers in a data
product scorecard
Customer’s willingness-to-pay
Target industries
Likely geographies
Value it could deliver
Use value based pricing
Focus on known
use cases
Your pricing strategy
Price-to-value trade-offs
Market share capture
Estimate an acceptable price that reflects the value delivered

6. Step 4: Prepare Listing
Effective data product listings communicate what the buyers are purchasing
Highlight specific useful
& unique qualities
Provide technical
attributes & samples
Determine usage
rights
Use engaging &
descriptive language
List fields, records, volume &
update frequency
Review DSX provided
legal documents
Compelling listings sell
effectively
Quality documentation
reduces confusion
Standardized legals reduce
buyer uncertainty
Provide ample explanation to all potential questions
WhyHow

7. Step 5: Delivery & Service
Utilize DataStreamX.com to promote your data product to the world
Directed set-up process ensures correct technical implementation
Collect relevant information created from steps 1-4
Upload data via site’s step-by-step wizard
Connect with either API or SDK
Provide contact details to address questions and
support issues
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8. The global marketplace for commercial data
datastreamx.com
linkedin.com/company/datastreamx
@DataStreamX_PLC