Ever since enterprises started to digitize, they have been capturing large sets of data. Today, they are using that data to discover insights which drive new profits and revenue opportunities. The truly innovative companies don’t limit themselves to their existing data. Innovation requires out of the box thinking, starting from capturing more data and ending with acquiring data from other companies that can be leveraged to improve information models and insights.
We have already discussed the opportunities of using the Internet of Thing (IoT) devices to capture more data in our, “Think in Real-Time” article. However, it’s important to remember that IoT is only one of the way to augment existing data. Many data marketplaces are willing to sell the data that they have acquired and aggregated for your use. Starting from Dun and Bradstreet ending with People Data Labs. Obtaining new data, to enhance your business outcomes, have never been more accessible or more affordable.