Meaning ● Automation Data Monetization, within the realm of SMBs, signifies the strategic conversion of data generated by automated systems into tangible revenue streams. ● This involves identifying, refining, and packaging data assets derived from process automation, customer relationship management (CRM), and other integrated systems. ● For an SMB, this could mean selling aggregated, anonymized operational data to industry research firms, offering customized insights to suppliers, or developing data-driven services for clients. ● Data privacy and compliance are paramount, ensuring ethical and legal use of collected information. ● The effective implementation of this concept in an SMB context can unlock new revenue opportunities and improve profitability by using existing or easily automated processes such as accounting, payroll, inventory management, point of sale or marketing operations.
