Infonomics I: Business Information Economics and Data Monetization from Coursera

Thriving in the Information Age compels organizations to deploy information as an actual business asset, not as an IT asset or merely as a business byproduct. This demands creativity in conceiving and implementing new ways to generate economic benefits from the wide array of information assets available to an organization. Unfortunately, information too frequently is underappreciated and therefore underutilized.

This first course in the two-part Infonomics series provides a non-technical perspective on and methods for understanding and taking advantage of information’s unique economic characteristics. Starting with dissecting whether the information is or isn’t an asset or even property, students will begin to appreciate the challenges and opportunities with treating it as one. Then the course examines how information behaves in the context of various familiar micro-economic concepts, and what can be gleaned from this to improve the way information is managed and leveraged. This leads to exploring the various ways information can generate economic benefits—or be monetized, including how various styles of business analytics can increase information’s potential and realized value for organizations.

What's inside

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.

Module 1: What is Information?

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

Module 2 The Economics of Information

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.

Module 3 Methods for Monetizing Information

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.

Module 4 Applied Analytics

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.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Suitable for those whose organizations demand more effective use of information as an asset

Taught by Douglas Laney, who is recognized for his expertise in the field of infonomics

Explores unique economic characteristics of information, providing valuable insights for decision-making

Requires prior knowledge of microeconomic concepts, which may be a barrier for some learners

Reviews summary

Well-received course on data monetization

Learners say this course is well-structured and helpful for those in the business, analytics, technology, or data fields. Many found the real-life case studies particularly engaging and mentioned the instructor's expertise and experience as valuable. Some learners did mention issues with certificate downloads and low-quality questions, but overall, reviews are largely positive.

Instructor is well-qualified and experienced.

"Great Course and Well Qualified Instructor."

"Doug make complex ideas simple, and his years of experience and examples prove that Infonomics is real."

Course is organized and easy to follow.

"A well-structured course helps to get a good understanding of Business economics and Data analytics."

Real-life case studies bring concepts to life.

"A starters course with real life insights and cases."

"A lot of learnings with multiple case studies for better understanding."

Some learners have experienced issues downloading certificates.

"course is completed, still certificate is not received"

Some learners found the quality of questions to be poor.

"But, Question Quality Is Bit Poor. Should Be Improved."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Infonomics I: Business Information Economics and Data Monetization with these activities:

Review basic economic concepts

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Establish a solid foundation in economics by reviewing the core principles of microeconomics and macroeconomics.

Browse courses on Microeconomics

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Read a textbook or online resource on microeconomics
Work through practice problems on microeconomic concepts
Review macroeconomic concepts such as GDP, inflation, and unemployment
Analyze news articles or economic data to apply your knowledge

Review "Information Economics and Policy"

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This book provides an in-depth examination of the economic principles underlying information

View The Economics of Information Technology: An... on Amazon

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Read the book thoroughly
Summarize the key concepts
Consider the implications for the course

Review microeconomic concepts

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Reviewing these concepts will build your foundation before taking this course

Browse courses on Microeconomics

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Read foundational textbooks or articles
Complete practice problems
Attend a refresher workshop

Seven other activities

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Complete online tutorials

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Completing these tutorials will enhance your understanding of information management and analysis

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Identify reputable online tutorials
Complete the tutorials
Take notes and summarize key points

Write a blog post on the challenges of managing information

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Develop a deeper understanding of the challenges and opportunities associated with managing information as an asset.

Browse courses on Information Management

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Research various challenges faced by organizations in managing information
Analyze case studies or examples of successful information management practices
Write a blog post outlining the challenges and potential solutions

Create a blog post

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Writing a blog post can help solidify your understanding of information as an asset

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Choose a specific aspect of how information can be treated as an asset
Research other sources and articles
Write a well-constructed blog post

Attend a workshop on information monetization

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Attending this workshop provides an immersive learning experience and allows you to network with experts

Browse courses on Information Monetization

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Research and identify relevant workshops
Register for the workshop
Attend the workshop and actively participate

Analyze case studies

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Analyzing case studies will help develop your critical thinking and problem-solving skills

Browse courses on Information Monetization

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Identify the key points of the case study
Analyze the case study using the concepts and theories learned in the course
Develop recommendations based on your analysis

Create a portfolio of your work

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Creating this portfolio will allow you to reflect on your progress and showcase your learning

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Gather your completed assignments, projects, and notes
Organize and select the most relevant pieces
Create a visually appealing portfolio that demonstrates your skills

Participate in a data visualization competition

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Engaging in this competition will challenge you to apply your knowledge and demonstrate your skills

Browse courses on Data Visualization

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Identify and research data visualization competitions
Form a team or collaborate with others
Develop and submit a compelling data visualization

Career center

Learners who complete Infonomics I: Business Information Economics and Data Monetization will develop knowledge and skills that may be useful to these careers:

Project Manager

A Project Manager is a professional who is responsible for planning, organizing, and executing projects. They work to ensure that projects are completed on time, within budget, and to the required quality standards. This course may be useful to a Project Manager because it will help them to understand the economic value of information and how to monetize it.

See salaries and explore the career path for Project Manager

Sales Manager

A Sales Manager is a professional who is responsible for leading and motivating a sales team. They work to develop and implement sales strategies to achieve revenue targets. This course may be useful to a Sales Manager because it will help them to understand the economic value of information and how to monetize it.

See salaries and explore the career path for Sales Manager

Data Scientist

A Data Scientist is a professional who uses data to solve business problems. They use their knowledge of statistics, machine learning, and data mining to extract insights from data. This course may be useful to a Data Scientist because it will help them to understand the economic value of information and how to monetize it.

See salaries and explore the career path for Data Scientist

Business Analyst

A Business Analyst is a bridge between business and technology. They work to understand business needs and translate them into technical requirements. They also work to ensure that technology systems are aligned with business goals. This course may be useful to a Business Analyst because it will help them to understand the economic value of information and how to monetize it.

See salaries and explore the career path for Business Analyst

Data Analyst

A Data Analyst is a professional who collects, processes, and analyzes data to provide insights to businesses. They use their skills in data mining, statistics, and machine learning to identify trends and patterns in data. This course may be useful to a Data Analyst because it will help them to understand the economic value of information and how to monetize it.

See salaries and explore the career path for Data Analyst

Product Manager

A Product Manager is a professional who is responsible for the development and marketing of a product. They work to ensure that the product meets the needs of customers and that it is profitable. This course may be useful to a Product Manager because it will help them to understand the economic value of information and how to monetize it.

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Risk Manager

A Risk Manager is a professional who identifies and manages risks to an organization. They work to develop and implement strategies to reduce the likelihood and impact of risks. This course may be useful to a Risk Manager because it will help them to understand the economic value of information and how to monetize it.

See salaries and explore the career path for Risk Manager

Market Researcher

A Market Researcher is a professional who conducts research to understand consumer behavior and market trends. They use their findings to help businesses develop marketing strategies and products. This course may be useful to a Market Researcher because it will help them to understand the economic value of information and how to monetize it.

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Systems Analyst

A Systems Analyst is a professional who designs and implements computer systems. They work to ensure that systems meet the needs of users and that they are efficient and effective. This course may be useful to a Systems Analyst because it will help them to understand the economic value of information and how to monetize it.

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Information Architect

An Information Architect is a professional who designs and organizes information systems. They work to ensure that information is easy to find, understand, and use. This course may be useful to an Information Architect because it will help them to understand the economic value of information and how to monetize it.

See salaries and explore the career path for Information Architect

Knowledge Manager

A Knowledge Manager is a professional who manages and shares knowledge within an organization. They work to ensure that knowledge is accessible to those who need it and that it is used to improve decision-making. This course may be useful to a Knowledge Manager because it will help them to understand the economic value of information and how to monetize it.

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Information Management Consultant

An Information Management Consultant helps organizations to improve their information management practices. They work to identify and address inefficiencies in information systems and processes. This course may be useful to an Information Management Consultant because it will help them to understand the economic value of information and how to monetize it.

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Strategy Consultant

A Strategy Consultant is a professional who helps organizations to develop and implement strategies to achieve their goals. They work with clients to identify opportunities, develop solutions, and implement plans. This course may be useful to a Strategy Consultant because it will help them to understand the economic value of information and how to monetize it.

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Web Analyst

A Web Analyst is a professional who analyzes website traffic and user behavior to improve the performance of websites. They use their findings to make recommendations for improvements to website design, content, and marketing strategies. This course may be useful to a Web Analyst because it will help them to understand the economic value of information and how to monetize it.

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Technology Evangelist

A Technology Evangelist is a professional who promotes and evangelizes new technologies. They work to educate potential customers and partners about the benefits of new technologies and to help them adopt these technologies. This course may be useful to a Technology Evangelist because it will help them to understand the economic value of information and how to monetize it.

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