Did you know that the size of the global market for data monetization was estimated at $1.30 billion in 2019? Data monetization and data ecosystems can be helpful tools for growing your business. Considering the ecosystem business model’s success, most international companies use it. Ecosystem strategies can achieve outstanding outcomes. They do this by diversifying the portfolio to include new products and services. Are you interested in harnessing the power of digital ecosystems in your business? Keep on reading to learn more! What Is a Digital Ecosystem? A collection of linked information resources is a digital ecosystem. Everything from customers to technology makes up a digital ecosystem. The ecosystem’s success depends on interoperability. A business may control both new and established technologies within an ecosystem. They may also create automated processes and expand business with B2B practices. An ecosystem’s unchecked organic growth can be detrimental to a company. When creating an ecosystem, it’s crucial to guarantee that all dependencies are manageable. Another step in building a good ecosystem is the creation of a digital ecosystem map. A business’ digital platform usage gets shown with a digital ecosystem map. The map demonstrates how data gets transmitted between ecosystem components. It also shows how …
Blog Posts
Big data ecosystems and analytics make up a $274 billion market today. Companies and individuals in all sectors and walks of life use data from the time they get up to the time they go to bed, and even while sleeping or away. Having the right data infrastructure in place will dictate how you communicate, do business, and keep records. Understanding these ecosystems will help you make the best use of your data. Check out the information below so that you can get up to speed on all things related to data ecosystems. Understanding Ecosystems First and foremost, you should understand exactly what data ecosystems are. A data ecosystem is an assortment of different types of applications, analytics, and other infrastructure that support a company or organization. Your ecosystem is the “engine” that dictates how you collect, use, and analyze data. These data ecosystems allow you to push innovation in many ways. Here are some of the many types of data ecosystems that your company or organization might use: Marketplace Data Ecosystems Amazon has a $1.23 trillion market cap today. This company left this mark thanks to building one of the most sophisticated marketplace data ecosystems. In fact, Amazon is the most recognizable data ecosystem of its …
Innovative technologies are changing the ways we do business in recent times. Today, it has become possible and fashionable for machines or computers to be programmed to perform specific intelligent tasks while we focus on other aspects of our business. Business owners that deploy artificial intelligence technology in their business reduce operational costs, increase efficiency, maximize revenue, and enhance customer experience. In today’s podcast, Chris Hood, a digital strategist, technology entrepreneur, and Stephen Halasnik from Financing Solutions discuss how artificial intelligence affects business operations. Listen to the full podcast Here! Subscribe to The Entrepreneur MBA Podcast AI Today You possibly interact with artificial intelligence (AI) daily and don’t even realize it. Many human beings nonetheless partner AI with science-fiction dystopias. However, that characterization is waning as AI develops and becomes more common in our everyday lives. Today, artificial intelligence is a brand name – and once in a while, even a family presence (Ok, Google!). While recognizing AI in mainstream society is a brand-new phenomenon, it’s a concept that has been around for several decades. The present-day discipline of AI got here into life in 1956. However, it took many years of labor to make sizeable development in the direction of growing an AI …
Around 45% of all businesses fail within only 5 years of being open. This is quite a large percentage, but why does it happen? Businesses fail for a variety of reasons, but one of those reasons likely has to do with a lack of any data monetization strategies. If you don’t take advantage of digital ecosystems and learn how to monetize them, you might not get very far and your organization might not become very successful. But what exactly should you consider in a monetization strategy involving data? Where should you start? Keep reading and learn more about data ecosystems and how you can monetize them with a few simple strategies. Consider Direct Data Monetization Direct data monetization, as the name suggests, is a way to directly sell your data to a third party (or several third-party organizations). There are several ways to do this, but the process is overall quite straightforward and simple. Usually, direct data monetization involves storing large quantities of data. This may take some time because, after all, obtaining large amounts of data naturally takes plenty of time unless your organization deals with large amounts of data on a regular basis. Whatever the case, it is more efficient to build …
I recently had the privilege of chatting with Michael R. Ayalon, MSP, Founder & CEO of Greek University, on his podcast, The Fraternity Foodie Podcast. Greek University started in September 2015 to leverage the leadership already present in fraternities and sororities to solve the most complex problems of hazing, sexual assaults, and alcohol/drug abuse on college campuses all over North America. Using best practices gathered over three years as the Executive Director of Sigma Pi Fraternity and the problem-solving expertise developed while helping to build multi-million dollar companies from the ground up, Michael could quickly engage with college students and show them how to resolve current issues. Michael headlined over 400 presentations across 200 college campuses as a professional speaker, author, and entrepreneur. He is also pursuing a Doctorate in Assessment, Learning, and Student Success (Higher Education Concentration) at Middle Tennessee State University and anticipates completion in 2025. Michael believes in motivating and inspiring college students to create safer communities, increase their membership, and produce higher engagement. He is a big fan of bringing innovative concepts to college campuses. Watch now! On this episode When a company engages in a culture of innovation, it is trying to seek new ideas. In other words, this …
The Entrepreneur MBA Podcast PRESS RELEASESeptember 6, 2022 Smart technologies are changing the ways we do business in recent times. Today, it has become possible and fashionable for machines or computers to be programmed to perform specific intelligent tasks while we focus on other aspects of our business. Business owners that deploy artificial intelligence technology in their business reduce operational costs, increase efficiency, maximize revenue, and enhance customer experience. In today’s podcast, Chris Hood, a digital strategist, and technology entrepreneur, and Stephen Halasnik from Financing Solutions, a leading provider of unsecured business lines of credit, discuss how artificial intelligence affects business operations. Listen to the Podcast or read summary by clicking here: How AI (Artificial intelligence) Is Starting toShift and Affect Business About Chris Hood Chris Hood is a digital strategist, technology entrepreneur, and innovation executive at Google with over 35years of experience in online business development and transformation. Mr. Hood teaches in the business and information technology departments at Southern New Hampshire University and Colorado TechnicalUniversity. He previously worked for Fox Broadcasting, Disney, Electronic Arts and was the co-founder forBlind Squirrel Games. About Stephen Halasnik, The Entrepreneur MBA Podcast and Financing SolutionsFinancing Solutions is a leading provider of small business …
Over the course of just a few years, the ways in which we consume content have changed dramatically. In order to compete in this new landscape and to adapt to the technological change that underpins it, media studios and other content producers should consider providing relatively open access to their proprietary content. This necessitates a cultural change across the industry. Cable television cancellation, or “cord cutting,” has increased significantly since 2010, and with the pandemic accelerating the trend, there are now more than 30 million cord-cutter U.S. households. The American digital content subscriber now watches streaming content across an average of more than three paid services. For several years, more video content has been uploaded to streaming services every 30 days than the major U.S. television networks have created in 30 years. With an abundance of content readily available across a growing number of platforms, each accessible from a plethora of different devices, media providers should invest in making it easier for consumers to find the video content they want to watch. If a viewer can’t access and stream something with minimal effort, they’ll likely move on to one of the countless alternatives readily at their disposal. Think about voice-based assistants and search services. When prompted to …
Chris Hood, ChrisHood.com, & CH Digital - Copyright ©
2009 - 2021 |