Data Market Place Defined
A data market place or data market is an online store where users can buy and sell data. This type of market place, offers various types of data for different markets across a ranges of different sources. Common types of data sold include business intelligence, advertising, demographics, personal information, research and market data.
Although different data market places have varied properties depending on the specific use, in general, the data marketplace paradigm allows for:
- Crowdsourcing: by making self-serve data selling available, providing a solution to the issues of , inaccurate or expensive single-source data.
- Aligned Incentives: collectors, users and data owners can benefit directly from keeping data in a structured form and allowing it become available to collectors or users.
- Standardization: this type of marketplace defines a common data model and interface, allowing buyers and sellers to exchange data in a structured way.
- Pricing Fairness: a data market place allows providers or data owners to set their own prices while also allowing consumer to choose who they purchase from.
In Data Defined, we help make the complex world of data more accessible by explaining some of the most complex aspects of the field.
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