Data monetization

Hey buddy, do you remember when we played "store" at home and we pretended to sell our toys to each other for some coins? Well, big companies also have a lot of information about people and they can do something similar! Data monetization is the process of using information, such as your name, age, interests or the websites you visit, to create valuable products or services that can be sold to other companies.

When we search for something on Google, for example, we leave a trail of data behind that can be used to understand what we like and don't like. Companies can then use this information to offer us advertisements or products that are more tailored to our interests. This is called targeted advertising and it's one way companies make money from our data.

But data monetization can also be used to improve current products or create new ones. For example, a company that sells cars may use data about how people use their cars to create new features that can make their products safer or more comfortable. This way, the company can sell more cars and make more money.

Overall, data monetization is when companies use information to make products or services that are valuable to other companies or customers. It's like playing "store" but on a bigger scale!