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$100M Founder Reveals The Secret To Making Data Profitable
My First Million
The Value of Data and Finding the Edge
Data itself is not valuable; it's the use of data that provides value to customers. The focus should be on the edge or advantage data can offer. When considering data opportunities, think about the edge it will drive, the ability to collect the data, and the size of the opportunity in specific verticals like financial services, AI companies, and sales/ad tech. Understanding the target market and the potential impact of the data on decision-making is crucial for building a successful data business. Selling benchmarking data with real impact can lead to substantial business growth, while irrelevant benchmarking data is unlikely to attract customers.
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