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Data Divination: Big Data Strategies by Pam Baker

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CHAPTER 7THE BIG DATA VALUE PROPOSITION AND MONETIZATION

Ask the question of where precisely there is bankable value in using big data and you’ll almost always be answered with vague generalizations or an anecdote or two. Is this merely a vendor tactic to evade answering and still make the sale? No, not generally. It isn’t that there is no answer, but that there are too many answers, each of which is dependent on too many variables, for there to be one short, concise response to such a question. Nonetheless, there are answers to be had and hard formulas to follow for definitive quantification and we’ll look at those in this chapter.

DETERMINING ROI IN UNCHARTED TERRITORY

First, let’s consider why answering the ROI question appears to be so difficult ...

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