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Data Marketplace

A Data Marketplace is a customized data exchange ecosystem that allows data providers to commercialize data and generate revenue, connecting them with data acquirers in a secure and controlled environment.

Description

The Data Marketplace project facilitates the creation of a customized data exchange ecosystem where data providers can monetize their assets by selling them to data acquirers. It functions as a two-sided platform, connecting numerous providers with multiple acquirers. This marketplace enables organizations to generate revenue directly by commercializing data products through subscriptions or pay-per-use models, and also through platform subscriptions and transaction commissions. The platform offers strict control over data visibility, access, and usage terms, allowing for secure and reliable data exchange. Furthermore, a Data Marketplace enables the identification of new data products and services, extends data exchanges to new businesses, and builds data-sharing partnerships, potentially evolving into an Industry Data Space model for expanded benefits.

Features

The Data Marketplace is a two-sided platform connecting multiple data providers with multiple data acquirers. Key features include secure data exchange, customizable subscription and pricing models (subscriptions or pay-per-use), and comprehensive control over data visibility, access rights, and usage terms. The platform supports various data product types and caters to diverse business needs. It enables organizations to generate direct revenue from data sales and platform subscriptions. The platform also fosters the development of data sharing relationships, potentially transitioning into an Industry Data Space model, thereby driving further revenue generation and business growth. The marketplace also prioritizes security, compliance, and trust.

Benefits

Data Marketplaces offer significant financial advantages, generating both direct and indirect revenue streams. Direct revenue is generated through data product sales (subscriptions or pay-per-use) and platform subscriptions, along with commissions on transactions. Indirect benefits arise from expanding into an Industry Data Space model. The platform enhances an organization's leadership position, develops new revenue sources, and maximizes profitability. For data acquirers, it solves business pain points by providing access to unique and valuable data. Improved operations, enhanced products, better market insights, and support for CSR objectives are among the benefits. The platform also allows for strict control over data visibility, access and use.

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