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Monetizing Your Data: Three Ways To Convert Your Data into Financial Returns
September 2017
MIT Industrial Liaisons Program: 2017 MIT Innovations in Management ConferenceDr. Barbara Wixom
Principal Research [email protected]
This research was made possible by the support of MIT CISR sponsors and patrons.
© 2017 MIT Sloan CISR
You can make from money from data in 3 ways
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,”
MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Sell Information
ImproveProcesses
Wrap Products
$
Improving
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,”
MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Improving at Microsoft
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,”
MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Improving at…
United Parcel Service optimizes delivery routes to save $400M annually
Columbia Sports eliminates root cause issues in the supply chain to improve the share of goods delivered on time from 28% to 78%
Trinity Health increases nurse call response time 57% and patient satisfaction 12%
Wrapping
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,” MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Wrapping at Capital One
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,” MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Wrapping at Capital One
Wrapping at Capital One
Wrapping at…
Caterpillar adds value to heavy equipment
using equipment performance dashboards to
help identify the root cause of performance
issues
BBVA adds value to POS services using
analytics to advise retailers on how to improve
store traffic
Aetna adds value to health plan administration
using analytics that inform employers about
their plan members health needs
Selling
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,”
MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Selling at Owens and Minor
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,”
MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Selling at Owens and Minor
Selling…
Investment benchmarks at State Street has
meant selling to “front-office” instead of “back-
office”
Smart-city solutions at BT has meant
managing an ecosystem of partnerships
People movement services at Schindler has
meant establishing a new digital business unit
You can make from money from data in 3 ways
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,”
MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Sell Information
ImproveProcesses
Wrap Products
$
Improving Wrapping Selling
TalentAnalytics
DataProcess
Infrastructure
All choices require great data foundations
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,” MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Improving Wrapping Selling
Each choice requires unique commitments
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,” MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Let’s go make money with data!
Wixom, B.H. and J.W. Ross, “Profiting from the Data Deluge,”
MIT CISR Research Briefing, Vol. XV, No. 12, December 2015.
Sell Information
ImproveProcesses
Wrap Products
$
MIT CISR gratefully acknowledges the support and contributions of its Research Patrons & Sponsors
PatronsAlixPartners LLPHuawei Technologies Co., Ltd.ISACAL&T Infotech LimitedMicrosoft CorporationPricewaterhouseCoopers
Advisory Services LLC
SponsorsAetna, Inc.Akamai TechnologiesAllstate Insurance CompanyANZ Banking Group Ltd.APM TerminalsAustralia PostAustralian Securities & Investments
Commission (ASIC)Australian Taxation OfficeAustralianSuperB2W Companhia DigitalBanco do Brasil S.A.Bank of QueenslandBarclaysBBVA Bemis Company, Inc.Biogen, Inc.
BMW GroupBNP ParibasBNY MellonThe Boston Consulting Group, Inc.BPBT Group plcCanadian Imperial Bank of CommerceCardinal Health, Inc.Caterpillar, Inc.CEMEX Charles Schwab & Co., Inc.Chevron CorporationCHRISTUS HealthCochlear LimitedCommonwealth Bank of AustraliaCPPIBCSBSDBS Bank Ltd.DentaQuestEl Corte InglésEquifaxExxonMobil Global Services CompanyFairfax MediaFerrovial Corporacion, S.A.Fidelity InvestmentsFrieslandCampinaGeneral Electric
Genworth FinancialGlaxoSmithKlineHitachi, Ltd.Howden Joinery Group plcInsurance Australia GroupJohnson & Johnson (J&J)LKK Health Products Group Ltd.LPL FinancialMcGraw-Hill EducationNational Australia Bank Ltd.National Disability Insurance SchemeNew Zealand Government—
GCIO OfficeNielsenNomura Holdings, Inc.Nomura Research Institute, Ltd.Nordea BankNorthwestern MutualOCP S.A.Orange S.A.Org. for Economic Co-operation
and Development (OECD)Origin EnergyOwens CorningPepsiCo Inc.Pioneer Natural Resources USA Inc.Principal Financial Group
Procter & GambleQBE Raytheon CompanyReserve Bank of AustraliaRoyal Bank of CanadaRoyal PhilipsSabadell BankScentre GroupSchindler Digital Business AGSchneider Electric Industries SASStandard Bank GroupState Street Corp.Suncorp GroupSwinburne University of TechnologySydney WaterTD Bank, N.A.Teck Resources LimitedTenet HealthTetra PakTrinity HealthUSAAWestpac Banking CorporationWestRockWorld Bank
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