Unlocking the value of data remains one of the most pressing and promising strategic challenges in the age of digital transformation. While data is widely recognized as a key asset, many organizations still face difficulties in converting its potential into tangible business value. This paper presents a research-based framework for data monetization strategies, developed through literature review, expert input, and ecosystem analysis. To support practical application, the framework is complemented by a diagnostic questionnaire that helps organizations assess their current capabilities and reflect on suitable strategic directions. Designed for early-stage use, the tool fosters alignment between monetization efforts and the company’s transformation context. The approach was developed within the EU-funded DATAMITE project and contributes to advancing strategy development in industrial data use and digital production management.