A third of companies to sell their data assets by 2016: Gartner

Summary:Big data has given businesses more information assets than ever before, and many of them are looking to monetise those assets, according to analyst firm Gartner.

Around 30 percent of businesses will sell or trade their information assets that have been gathered through big data by 2016, according to Gartner.

Many companies are already gathering large data sets for business analytics and intelligent reasons, but managing big data is a tricky — not to mention, costly — affair, according to Gartner Vice President for Research Doug Laney.

"Their need to justify the expense of accumulating and managing high volumes of data has led many organisations to consider opportunities for generating revenue or creating new products from their information assets," he said in a statement. "For example, several retailers are already generating millions of dollars per year in incremental revenue by placing online their point-of-sale and other data for business partners to subscribe to."

According to Laney, this trend will spawn information resellers that will help inexperienced companies to monetise their data assets. This trend will also encourage businesses that already make money through their information stockpiles to collect even more data through their web-connected products, he said.

"Consumers and businesses must recognise that their personal usage, location, profile, and activity data has a tangible market value," Laney said. "They should guard it and ensure that, when they do share it, they receive ample services, products, or cash for it."

"Businesses monetising information assets need to be sensitive to the reputational risk of public backlash against such practices that may in turn lead to a tighter regulatory environment."

New forms of technology will also emerge as companies look to make money from their data, including cloud-based database management and business intelligence products that will be more suited to sharing data on a subscription basis, Laney said.

Topics: Big Data

About

Spandas forayed into tech journalism in 2009 as a fresh university graduate spurring her passion for all things tech. Based in Australia, Spandas covers enterprise and business IT.

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