Be aware!

As you know, data is essential for generating a competitive advantage. However, for every product, there are a couple of factors that you need to take in mind when determining the value of your data:

Time

How quickly can you use your data for product improvements? Faster is better

Your product

Can you also use insights from one user to improve products for other users? If yes, potential network effects are waiting for you.

What’s your product? Chances are that a search engine relies more on data than a smart fridge. 

Your customer’s

Do your customer’s preferences change fast and fundamentally? If yes, your historical data might be of limited use (for product improvements). 

Your competitors

Could your competitors copy your data (insights) or your product? Make it complex and hide