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PeteSearch: How to turn data into money
October 20, 2010 by Pete Warden. The most important unsolved
question for Big Data startups is how to make money. Here's a hierarchy
showing the stages from raw data to cold, hard cash:
(1) Data. You have a bunch of files containing info. you've gathered,
way too much for any human to ever read. You know there's a lot of
useful stuff in there though, but you can talk until you're blue in the
face & the people with the checkbooks will keep them closed. The
data itself, no matter how unique, is low value, since it will take
somebody else a lot of effort to turn it into something they can use to
make $. (2) Charts. Take that massive deluge of data and turn it into
some summary tables & simple graphs. You want to give an unbiased
overview of the info., so the tables & graphs are quite detailed.
This makes a bit more sense to the potential end-users, they can at
least understand what it is you have, and start to imagine ways they
could use it. (3) Reports; (4) Recommendations.
analysis  commercialization  data  data_driven  data_marketplaces  data_scientists  entrepreneurship  hierarchies  ideas  InfoChimps  massive_data_sets  monetization  value_creation  visual_analysis  visualization 
july 2011 by jerryking
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