By Conor McIntyre, Business Development Executive, DataBuilders
Monetising Your Data with Sisense
Unlocking The Power of Analytics
In today’s data-driven world, organisations are continuously collecting vast amounts of data. However, merely accumulating data is not enough to drive business growth. To stay competitive, businesses need to extract actionable insights from their data and transform it into a valuable asset. This is where our partner technology, Sisense, a business intelligence and analytics platform, comes into play. I want to explore how you can monetise your data with Sisense and unlock its potential for revenue generation.
First off, we must understand the Value of Data:
How many times have you heard data being referred to as the “new oil” because of its immense value? Too many I’m sure as it seems an old phrase at this stage, but it has become increasingly more and more poignant. By harnessing the power of data analytics, businesses can gain valuable insights, identify trends, make informed decisions, and discover new revenue streams. In a way data is not like the ‘new oil’ in that unlike oil the same data can be consumed more than once and enriched with other data repeatedly leading to exponential value creation and continuous innovation – and doesn’t destroy the planet!
Leveraging Sisense's Analytical Capabilities
Sisense provides a user-friendly, end-to-end analytics platform that enables businesses to unlock the full potential of their data. Below are some of the key features that can help facilitate and accelerate data monetisation:
Data Integration: Sisense makes integrating data from multiple sources simple. Be it structured or unstructured data and allows for a unified view in your Sisense Elasticube. This enables businesses to gain a holistic understanding of their data and make more informed decisions.
Powerful Data Visualisation: As any BI tool should, Sisense offers interactive dashboards and visualisations that make complex data easily understandable. These visually appealing representations help stakeholders gain insights quickly and act upon them. Where Sisense stands out, is with the no/low-code, drag-and-drop configuration making adoption and usability easier for anyone to pick it up.
Advanced Analytics: Sisense goes beyond basic reporting and offers advanced analytics capabilities, such as predictive modelling, machine learning, and natural language processing (ChatGPT coming soon here). These features allow businesses to uncover deeper insights and make data-driven predictions.
Embedded Analytics: Sisense allows businesses to embed analytics directly into their products, applications, or services. This empowers organisations to create data-driven, self-service offerings for their customers, opening new revenue streams.
Not to forget the new report manager feature where you can schedule reports to be sent how and when you want it, to whomever you want it in PDF, email, CSV format or even as a link directly to the dashboard. And pulse alerts, alerting you (as you could probably tell by the name) to let you know when a particular metric of yours is under/overperforming based on thresholds that you set or even when a particular trigger event happens.
Monitising Data With Sisense
We have several customers monetising their data and what we’ve learned through their experience is that there are several ways in which you can look to maximise your monetisation strategy. Although some have very unique offerings, I was able to pull them all together in the most applicable ways to any data set as follows;
Data-as-a-Service (DaaS): With Sisense, you can create and offer data products to customers. By packaging and selling your data, you can provide valuable insights to other businesses, researchers, or even the general public should you be geared that way. This approach allows you to generate revenue from your data assets.
Subscription-Based Analytics: Sisense enables you to build subscription-based analytics services. By offering customers access to your analytics platform, you can monetise your expertise and data insights. This model can be particularly beneficial for consultancy firms or businesses with specialised knowledge.
Data-Driven Applications: Sisense’s embedded analytics capabilities empower you to create data-driven applications. By integrating analytics directly into your software or services, you can offer enhanced functionality to your customers so they have the analytics right where they are already working. This not only adds value but also creates new monetisation opportunities.
Partnerships and Collaborations: Sisense provides integration options that allow you to collaborate with other organisations or industry partners. By combining your data with complementary datasets, you can create unique value propositions and explore joint monetisation strategies.
DataBuilders and Sisense are keen to work with you in finding the right approach that makes the most commercial sense to your business model and along with our team of experts will help you become the biggest data-driven organisation around and maximise the potential value your data and data operations hold.
Ensuring Data Privacy and Security
This is often one of the biggest concerns for any company engaging with us when they are trying to monetise their data and with multi-tenancy, role-level access & MFA concerns quickly dissipate. Monetising your data comes with the responsibility of ensuring privacy and security. Sisense offers robust data protection measures, including user access controls, encryption, and compliance with industry regulations. By safeguarding your data assets, you build trust with customers and maintain a competitive edge.
Data is a valuable asset that, when leveraged effectively, can drive business growth and revenue generation. Sisense offers a powerful analytics platform that enables organisations to unlock the potential of their data.
Data monetisation starts here. Databuilders and Sisense equip you with the insights and strategies to monetise your data effectively. Act now and unlock the revenue potential of your data. Please reach out and talk to me should you have any questions or queries or feel as though you’re ready to maximise the potential value hidden within your data. And if you think you already have, I can assure you we’ll find more. Contact me on my details below to set up a DEMO today!
I’m looking forward to hearing from you!
Ph: +353 86 136 4291