Infonomics I: Business Information Economics and Data Monetization

Go to Course: https://www.coursera.org/learn/infonomics-1

Introduction

**Course Review and Recommendation: Infonomics I: Business Information Economics and Data Monetization** In today's data-driven economy, organizations are often inundated with vast amounts of information. However, transforming this wealth of data into tangible business value remains a formidable challenge for many. Enter the Coursera course, *Infonomics I: Business Information Economics and Data Monetization*, an insightful introduction to understanding and monetizing information as a critical business asset. ### Overview The *Infonomics I* course is designed for professionals and organizational leaders who wish to harness the power of information for strategic advantage. Unlike traditional IT or business courses, this course emphasizes the importance of viewing information through an economic lens. It encourages a mindset shift: information should not merely be seen as a byproduct of business operations but recognized as a valuable asset capable of generating revenue. ### Course Structure #### **Course Orientation** The course begins with an orientation module that lays the groundwork for the learning journey. Students will become familiar with the layout of the course, meet fellow participants, and acquire the necessary technical skills to navigate the platform effectively. This initial step helps set the tone for a collaborative and engaging learning environment. #### **Module 1: What is Information?** The first module delves into the essence of Infonomics, clearly defining it and distinguishing it from related concepts such as Information Technology and Information Economics. This foundational knowledge is crucial for understanding how organizations can leverage information strategically. #### **Module 2: The Economics of Information** Building on the foundational knowledge, this module explores why information should be considered an asset. It unveils the unique properties of information that differentiate it from physical assets like oil, drawing parallels to highlight the significance of data as a commodity in the modern marketplace. #### **Module 3: Methods for Monetizing Information** Perhaps one of the most practical areas of the course, this module showcases real-world case studies from industry giants such as Walmart, Trulia, and DBS Bank. Participants will explore how these organizations successfully monetized information to drive customer acquisition, enhance operational efficiency, and create new revenue streams. By analyzing these examples, students gain actionable insights into potential applications within their own organizations. #### **Module 4: Applied Analytics** The final module focuses on applied analytics, introducing the three “Vs” of big data: Volume, Velocity, and Variety. Understanding these concepts is vital for extracting insights from data that can transform organizational strategies. The course guides participants through methods of leveraging analytics to generate economic value from information assets, fostering a practical understanding that can be immediately applied. ### Recommendation I highly recommend *Infonomics I: Business Information Economics and Data Monetization* to anyone eager to understand the economic implications of information in a business context. Whether you are a data analyst, manager, or executive, this course provides valuable insights into the intersection of data and business strategy. The course is thoughtfully structured, making complex concepts accessible and relevant. The real-life case studies emphasize practical applications and make the content resonate with real-world scenarios. This course not only enriches your knowledge but also equips you with the tools to advocate for the integration of information into your organization's business model. In conclusion, with its blend of theoretical knowledge and practical applications, *Infonomics I* stands out as an essential resource for professionals looking to thrive in the information age. Buckle up and get ready to unlock the hidden potential of your organization's data!

Syllabus

Course Orientation

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

In this module, we are focusing on the definition of Infonomics. You will learn about the difference among Information Technology, Information Economics, and Infonomics.

In this module, you will learn why information should be considered an asset. You will also learn about unique properties of information that make it different from valuable physical assets, such as oil, to which it is very often compared in the modern world to indicate the value it possesses.

In this module, you will read many real-life cases that deal with monetizing information, such as Walmart optimizing search results to increase customer acquisition and retention, Trulia training neural networks to create a supplemental revenue stream, and DBS Bank developing a data solution to improve business performance. Throughout all these examples and cases, you will have a clear look at how organizations benefit from monetizing information.

Through this module, you will learn about the three “Vs” of big data and how each of them affects the analytics that can be applied to your information assets and how they could be used to generate insights, recommendations, and prescriptions that can add direct economic value to the organization, i.e., how the information assets can be monetized.