UdZ 01.25 / 55 DATAMITE: Effective Data Monetization Strategies to Strengthen the European Data Economy Digitalization has significantly increased the value of data in today's business landscape, but many companies are not fully capitalizing on this potential. To address these challenges, the EU-funded research project DATAMITE was launched in 2023. The project provides a modular approach and practical tools to help organizations efficiently access, utilize, and monetize their data. These open-source tools are available through a dedicated platform. One of the project’s key outcomes is a newly developed data monetization framework that guides companies in developing and implementing data-based business models. A core component of this framework is a model that helps organizations define and select suitable monetization strategies. It enables companies to identify and assess monetization strategies across four dimensions: value proposition, value chain, revenue mechanics, and target customers. Selecting the right strategy is facilitated by a structured questionnaire that organizations use to evaluate their strategic goals, capabilities, and challenges. Small and medium-sized companies particularly benefit from this practical approach. By leveraging cost-effective learning opportunities and free access to various tools, they can efficiently structure, analyze, and monetize their data. This enables SMEs to unlock the full potential of the data economy. >
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