In this podcast episode, Amir Bormand interviews Barb Wixom, a Principal Research Scientist at MIT Sloan's Center for IS Research. They discuss the concept of data monetization, touching on its various aspects, such as the three ways to monetize data, the capabilities needed, governance, and potential challenges with advanced technologies. Wixom emphasizes the importance of understanding an organization's data assets, focusing on quality rather than quantity, and the journey toward improving, wrapping, and selling data. She also talks about her recent book, which packages everything essential to know to succeed with data monetization.

Highlights

00:13 Understanding Data Monetization

01:05 The Role of Research in Data Monetization

01:55 The Evolution of Data Monetization

03:23 The Importance of Language in Data Monetization

05:49 The Three Ways to Monetize Data

06:23 The Challenges of Data Monetization

12:32 The Role of Data Assets in Monetization

16:51 The Journey of Data Monetization

31:57 The Future of Data Monetization

Guest:

Since 1994, Barbara Wixom’s research has explored how organizations generate business value from data assets. Her methods include large-scale surveys, meta-analyses, lab experiments and in-depth case studies; five of her cases have placed in the Society for Information Management Paper Awards competition. Wixom is a leading academic scholar, who regularly presents her work to academic and business audiences around the world.

Wixom joined MIT Sloan in June 2013 to serve as a Principal Research Scientist at the Center for Information Systems Research (CISR). She leads the MIT CISR Data Research Advisory Board, comprised of one hundred data and analytics executives from CISR organizations. Wixom authored her new book Data is Everybody’s Business (MIT Press, September 2023) to inspire workers across organizations to monetize data. She actively works to encourage women, young people, and underrepresented populations to learn about data and pursue data-related careers.

https://www.linkedin.com/in/barb-wixom-0976983/

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