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The majority of organizations we surveyed prefer to have control over the development of new products and services

Companies that commercialize big data on their own have the advantage of economies of scale, control over strategy, and much greater revenue potential.

a great deal of existing transactional data that they can capitalize on, and companies with valuable data but not enough of it to make the business viable

the real potential is what happens when the data from thousands of tractors on thousands of farms is collected, aggregated, and analyzed in real time.

Monsanto says its sensors on harvesting equipment generate about seven gigabytes of data per acre.

Some farmers are worried about security and how companies could use and profit off their farms’ data. “A lot of the data we keep track of is sensitive to the farm, and I’m a little concerned if someone else got a hold of it,” Marshall says.

data as the new currency’ and we try to give it a price tag. Typically, data is worth what someone is willing to pay for it.

63% of respondents consider that the monetization of data could eventually become as valuable to their organisations as their existing products and services.

Interestingly, the most valuable individual asset that creditors are vying for is Caesar’s Total Rewards Loyalty Program, the company’s big-data customer loyalty program that it has been built over the last 17 years and is said to have data on more than 45 million customers.  This data is valued by creditors at $1 billion – that’s a fairly large number. It exceeds the value of any of Caesar’s physical Las Vegas properties, which really puts the value of data in perspective.

artners and competitors alike share data and integrate business processes where the resulting benefits to overall markets, the enterprises themselves and customers outweigh the risks of such collaboration.

he majority of net-new value created by the Data Economy will come from enterprises and organizations who create value for themselves, for their partners (and even competitors), for their customers, and for society at large.

But the Data Economy refers to much more than any one enterprise or organization making better use of data. Discreet use cases and applications of Big Data must be part of a larger whole. In the Data Economy, entire industries will operate and markets function all through the intelligent use and sharing of data.

But in many cases, the value in the data is not that people will be willing to pay money for bulk downloads or access to raw data, but in data products that complement a firm’s existing offerings.

Data services become a must-have add-on to product sales.

Data analysts and data scientists will publish application programming interfaces (APIs) to Azure Marketplace web services, making insights all the more accessible

Collection of data, data protection issues, and  exploitation of data were one of the main topics brought forward in the discussion. The representative of the IT company Gaia Epicheirein explained the cloud platform that they have created in Greece in cooperation with a bank and cooperatives of small producers and retailers.

the cooperatives own the data

Farmers Weekly Group