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Monetizing Data: A Roadmap for Mastering Data-Driven Service Growth
Authors: Wolfgang Ulaga (INSEAD Fontainebleau, France)
Many B2B companies today seek growth through new service business models, innovative service concepts and customer solutions. This trend is further fueled by the digital transformation of industries and markets. Yet, while the vast majority of B2B firms declare being engaged in one form or another of transformative digital initiatives, many still must come to grips with the imperative of turning data into dollars. Across the broad, executives and managers seek insights on how to achieve excellence in marketing and sales of data-driven offers in business markets and knowledge on mastering data-driven service growth is still at its infancy. Against, this background, my talk will discuss opportunities and challenges faced by B2B data monetization and will report on the success factors and critical milestones identified in our action research on the journey to successfully mastering data-driven service growth in business markets. These findings open up new research opportunities in this promising field.