IRCTC to Monetize passenger data
IRCTC floats tender for appointing consultant for digital data monetization.
Why exactly data monetization and what about data privacy?
IRCTC, the ticket booking arm of the Indian Railways is making a first of a kind move to monetize data, as in analyze passenger data to provide customized services. The company would be using the data solely for the development of services and would not be monetizing data to private organizations via consultants.
IRCTC floated a tender to hire consultant that will guide IRCTC and Indian Railways on monetization activities and advise on monetization value of Digital Assets observing various Acts or laws including lT Act 2000 and its amendments, User data privacy laws including GDPR and current 'Personal Data Protection Bill 2018 of India.
IRCTC expects a potential revenue of INR 1000 crores and also expects improvement in passenger experience.
Speculating that IRCTC has got approval from Indian Railways to monetize passenger data, coupled with strong quarterly performance the company stock has rallied 12% in the last two days.
Is Data monetization a right step taken by IRCTC? What do you think?
