Rumblings about monetizing passive data have been part of the tech sector conversation for years.
Until recently, however, it hasn’t been easy to point to concrete examples of companies making their passive data work for their bottom line. That’s now changed, and one front-running example is Uber’s Driver API.
With over 1.5 million Uber drivers on the road, logging trip, financial, rating and profile information, there is an obvious market for developers building driver-experience-enhancing apps: a direct, practical step toward monetizing passive data.
A new API for developers to make driving more rewarding — introducing the Uber Driver API: https://t.co/wsaChlTuuP
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— Uber Developers (@UberDevelopers) October 26, 2016
This applied data isn’t only boosting Uber’s profile: It’s creating opportunities for enterprise, giving established players and up-and-coming developers a huge market to tap into, and a chance to partner with a massive startup success.
As TechCrunch reports, Uber has already reached out to developers interested in creating tools. Drivers can access a CV-building tool, track their tax owings, or connect to an auto repair rewards system.
Uber’s step into monetizing data won’t just endear them to developers eager to enter a new market. This is a partnership-building tool, and a vanguard example to other companies looking to transform data into new business opportunities.
Frequently Asked Questions
What is passive data monetization?
Monetizing passive data means making the data a company already collects work for its bottom line. The article said it had long been discussed but, until recently, there were few concrete examples, with Uber's Driver API being a leading one in 2016.
What is Uber's Driver API?
Uber's Driver API lets developers build apps that improve the driver experience using the trip, financial, rating and profile information logged by Uber's more than 1.5 million drivers.
What kinds of tools were developers building with Uber's driver data?
According to a TechCrunch report cited in the article, drivers could access a CV-building tool, track the taxes they owe or connect to an auto repair rewards system.
How does Uber's Driver API benefit developers and enterprises?
The article said the API gives established players and up-and-coming developers a large market to tap into, along with a chance to partner with a major startup success.
Why is Uber's approach significant for other companies?
The article described the Driver API as a partnership-building tool and a leading example for other companies looking to turn their data into new business opportunities.