Developing Data-as-a-Service Offerings

Tips and guidance to implement a data monetization strategy through data as a service (DaaS) products and offerings

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Worldwide Data as Service spending in 2016, 2018, and 2021 bar chart. 8.7B shows for 2016, 9.3B shows for 2018, and 10.4B shows for 2021. $10.4B will be spent on DaaS in 2021 worldwide.
The “Worldwide Data as Service spending in 2016, 2018, and 2021” bar chart provides a visual representation of worldwide spending on Data as a Service (D A A S) for three years: 2016, 2018, and 2021. The 2016 bar has a value of 8.7B, the 2018 bar has a value of 9.3B, and the 2021 bar has a value of 10.4B. The chart visually depicts the trend of increasing spending on D A A S over time.

Product Development

It is important for all the varied stakeholders — from business leaders and product managers to IT professionals and marketers — to realize that this is a very different endeavor from traditional data management. This is a new product development process. You’ll need a thorough plan to create an effective data-as-a-service offering.

What:

This module will help CIOs and other high-level IT leaders undertake a new product development process that is very different than traditional data management, following clear steps: Strategy, Financials, Offering, Resources, and Measuring Success.

Why:

Stakeholders need to craft a thorough plan to prepare and mitigate the risks of a data-as-a-service offering. Understanding the appropriate features, technologies, and vendors is crucial to this new type of product development.

How:

Developing a data-as-a-service offering includes the following steps:

  • Create Data as a Service Offerings (DaaS)
  • Identify the Technology Required to support a DaaS Offering
  • Identify potential vendors and partners if needed for Daas

Explore Other Related Modules

  • Implementing the NIST Cybersecurity Framework in the Digital Enterprise

  • Effective Communication Strategies for Transformation

  • Data Monetization Capabilities, Governance, and Planning

Successful DX efforts have measurable, achievable and supported goals, strategy and KPIs