What is Data monetization ? Why this is Dangerous for you Business

Hey guys i am back with an another post . In today's post i will be telling you in detail about data monetization and also talk about how data monetization can dangerous for you and your business. So let's start.

Before we start talking about data monetization let's see what is data monetisation.

What is Data Monetization ?

Data monetization is an act of converting corporate data in money. It can be the actual money or for the purpose of service enhancement or marketing purpose.

Detail Discussion about Data Monetization  

From the definition itself you would have got the idea what is data monetization. Now let's learn data monetization from the point of example .

Example : Just think that you have an "matrimony website". An their are 20,000 people who have created account on the website in which 15000 are Mens and 5000 are womens . They have entered their real name , gender, email address, Phone number, credit card details and many more.

Now the details that the visitors have entered on your website in the data of your visitors with that they have trust on the website so they have entered their details on your website because  they think this website is genuine and safe. Now that they have entered the details on your website all the details that your visitors have entered is now stored in your data base.

Now this available data is of no use to you. Now let's look at the other hand . Their is a advertising company who need the data of the people to show the relevant ads as per the consumers. Now as your website is growing they will be looking at the peoples, how many peoples are visiting your website daily from that how many are the unique visitors, and  also see the how good is your website goodwill and how much is your website ranking on a particular search engine.

After that they have got all the information about your website they will try to contact you and they will offer you a huge amount of money to sell the data of your visitors.Now if you accept their terms then they will pay all the money to your and then you will give the data to that company. Now that you have sell the data of your customers now that company can do anything with that data. They can try to hack the peoples, they can try to blackmail the people or worst then that.

After all the data monetization is a kind of fraud with the customers of your website.Now then if the customers comes to know that you have selled the personal data to other company then that peoples can bring legal notice to you. You can get upto a 2 year imprisonment and a large amount of penalty to you. At the end you should not do the data monetization it is fraud with your customer and it can harm your business very badly.

Quotes by hackers " Money is not the strength, Data is the new                                         power"

Few Example of Data Monetization :

Facebook and Cambridge analytica