The daily increase in the volume of streamed and processed data has led many firms to recognise creative and unusual uses for it, including data monetization. Monetization is the process of leveraging data produced by a corporation to provide a quantifiable economic gain. Depending on the situation, this can entail sharing data with third parties or using it privately to improve operations or capture new chances for innovation. Utilizing monetization has benefits for businesses, including cost savings, revenue growth, and the opportunity for new data-related services. The benefits of monetization now outweigh the initial time and financial investments, so there has never been a better time for your company to learn how to gain a competitive advantage through effective data collection and analysis.