3 Ways To Monetize Your Data

    Written By:
  • Scott LoveScott Love
Picture of Piggy Bank

There’s money to be made in data, and more companies are pursuing this growing revenue stream.

These organizations own or acquire data, create pre-packaged analytics on top of it, and sell it to their clients as a pre-built, interactive solution. Doing so makes money, but are companies getting the greatest return possible?

Often, companies do not have a method for easily enabling their clients to interact, visualize, or derive insights from their data. This limits organizations insights into understanding how their clients use their data and reduces revenue by not monetizing any premium add-on products to the data.

What if instead of simply providing static data to clients, companies could produce a handful of dashboards to support thousands of clients?

They would lower their costs while increasing their revenue. They would make more money from monetizing their data. They would significantly improve the customer experience and increase retention rates.

Your company can realize this outcome by pairing Tableau and Lovelytics. Lovelytics is a premier Tableau implementation partner specializing in helping firms like yours develop modern solutions, powered by Tableau, to sell your data and analytics to your clients.

We can help you turn Tableau from a cost to a revenue producer for your company.

Below are three ways we can help you use Tableau to better monetize your firm’s data.

How Tableau Can Help You Monetize Your Data

Many companies that sell data are working hard, not smart. They spend a lot of time creating customized solutions for a small number of clients.

Instead, we can develop a set of pre-built dashboards and data sources to give you a more efficient, scalable, and profitable revenue stream for your company.

Cover Your Clients’ Primary Needs with Customized Dashboards

The companies you sell data to have varying business models, industries, and customers. Yet many of their data needs overlap.

Most of the people consuming the data you sell to your client companies are interested in top-level analysis, such as revenue, customer purchases, and retail sales.

Right now, your company probably creates customized analytics dashboards for each of your clients. That means your firm spends a lot of time creating solutions for a small number of clients, and you’re not able to reuse those solutions with another client.

To create a scalable solution that enhances the insights your clients receive and significantly reduces strain on your team, we always recommend building a set 2 to 5 standard dashboards that can be deployed to all clients. The data will be securely shared using row-level-security, so when Company A logs in, they only see Company A’s data.

We frequently find the 2 to 5 dashboards cover your clients primary needs. The dashboards are visually appealing and answer the majority of all your client’s analytics questions.

This makes it easy for you to serve more clients with less time and effort.

Upsell Additional Customization

While the base set of dashboards will meet most of your clients’ analytics needs, we recognize that some may still want customized dashboards.

That’s why we work with our clients to define the process for monetizing premium customization options they can offer. For example, if a client wants a set of custom dashboards beyond the standard 2 to 5 dashboards provided, an upsell

It’s an upselling opportunity that further boosts revenue and custom satisfaction.

Give Clients a On-Brand, White-Labeled Experience

Another way to better monetize your analytics offering is to provide your clients with an on-brand, white-labeled portal or experience.

This means embedding the Tableau dashboards into an existing application, newly developed portal, Salesforce Community, or anywhere else that clients can securely access information.

The application or portal is customized for your brand, providing a consistent look and feel to all your client companies. When your clients log into the portal, they’ll have access to all their analytics dashboards.

And we use row-level security to ensure each of your clients can access only their data and no one else’s.

Your clients can securely access their analytics dashboards using a portal featuring your branding and hosted at your domain.

Start Monetizing Your Data with Tableau

Your company’s monetizing data, but we can help you boost this revenue stream for your company.

Using Tableau, we can give you:

  • Customized analytics dashboards for your clients.
  • An upselling opportunity for higher-need clients.
  • A white-labeled, secure portal for clients to access their dashboards.

Your company can better monetize your data by becoming more efficient and scalable, and we can help.

If you’d like to increase the revenue your company generates by selling data, contact us at [email protected] to get started.

Learn More About This Solution

Are you ready to work with Lovelytics?

Send us a message to get started.