5 Best Practices for Getting Rich with Data
The term rich data has been discussed and argued for years now. Essentially, the phrase means turning vast amounts of existing, often archived content into new electronic products. In a story in Publishing Executive’s September issue, Barry Bealer, president/CEO and co-founder of Really Strategies Inc., provided five best practices on how publishers can get rich from data.
1) Know what you have. Understanding what each products line (print, online, databases) has and how interesting relationships can be formulated is key to developing rich data products that people will want. Knowing what you have and how the content can relate to each other is an important aspect to any successful rich data product.
2) Know what you don’t have. Part of the challenge of creating rich data products is identifying what content exists in the marketplace that would complement the content you already have.
3) Know how to manage what you have and need. Given that most rich data products are comprised of many types of content, publishers need to streamline the management of disparate data types.
4) Know when to say “when.” Publishers should not cautiously wait for the perfect time to launch a rich data product, but rather experiment with new ideas and concepts to test their viability.
5) Know who you serve. Understanding your audience and how and when they use or want to use your content is the most important aspect of developing rich data products. Building cool rich data products that aren’t used will likely cost a lot of money with no return. Getting the rich data product embedded into the user’s daily routine or workflow is the best scenario possible. Know who you are serving and verify the audience frequently.
For more insights on getting the most out of your rich data, read the full article—“5 Best Practices for Getting Rich with Data”—online at www.PubExec.com.