Data is the new oil, and the app economy is flush with it. The data that is generated from the mobile devices we all carry can be incredibly valuable if used properly, and many developers are already leveraging that data to enhance their business models.
For example, wearable computing products, such as fitness wrist bands from Sony and FitBit, are leading the way in the consumerization of data from early adopters. The amount of data collected and shared from these devices is doubling every year. Meanwhile, crowd-sourced GPS apps, such as Waze, are also prime examples of specific use cases where the data collected continues to grow in value as more people contribute to the application.
Given that the average smartphone owner looks at his or her screen over 150 times per day, it is not surprising that more developers are trying to find the optimal way of collecting and monetizing the data generated by their applications. If your application is a reason that smartphone owners look at their screen multiple times a day and there is a large enough sample size, then the data that each visit provides is a business unto itself. But how do you collect the right amount of the most valuable data to generate revenue from this untapped resource, and at the same time create a better end-user experience?