March 20, 2022
Data products are quite topical these days due to the popularity of so-called data mesh architectures. A data product is an application that uses data to achieve a business objective such as revenue growth, cost reduction, risk mitigation, or cash flow enhancement.
The value of a company’s data can be increased through the creation of data products.
Data products are produced from data sets or from other data products. Just like raw materials are used to produce finished goods in manufacturing, one or more data sets or data products are used to create a data product.
Here is a sample inventory of data products from various industries to illustrate novel ways companies can increase their data valuation.