Wednesday, October 27, 2010

Turning data into money

Blog post at PeteSearch

Here's my hierarchy showing the stages from raw data to cold, hard cash:
  1. Data
  2. Charts
  3. Reports
  4. Recommendations
You're offering them direct ways to meet their business goals, which is incredibly valuable. This is the Nirvana of data startups, you've turned into an essential business tool that your customers know is helping them make money, so they're willing to pay a lot.

My rephrasing of Pete's post: Showing people information is usually not enough. You often have to recommend what to DO with that information.

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