Trading data as a commodity has become increasingly popular in recent years, and data marketplaces have emerged as a new business model where data from a variety of sources can be collected, aggregated, processed, enriched, bought, and sold. They are effectively changing the way data are distributed and managed on the Internet. To get a better understanding of the emergence of data marketplaces, we have conducted several surveys in recent years to systematically gather and evaluate their characteristics. This paper takes a broader perspective and relates data marketplaces as currently discussed in computer science to the neoclassical notions of market and marketplace from economics. Specifically, we provide a typology of electronic marketplaces and discuss their approaches to the distribution of data. Finally, we provide a distinct definition of data marketplaces, leading to a classification framework that can provide structure for the emerging field of data marketplace research.
The survey presented in this work investigates emerging markets for data and is the third of its kind, providing a deeper understanding of this emerging type of market. The findings indicate that data providers focus on limited business models and that data remains individualized and differentiated. Nevertheless, a trend towards commoditization for certain types of data can be foreseen, which allows an outlook to further developments in this area.
Data is becoming more and more of a commodity, so that it is not surprising that data has reached the status of tradable goods. An increasing number of data providers is recognizing this and is consequently setting up platforms for selling, buying, or trading data. We identify several categories and dimensions of data marketplaces and data vendors and provide a snapshot of the situation as of Summer 2012.1 The list of companies surveyed can be found at http://dbis-group.uni-muenster.de/temporary_ downloads/SurveyList.pdf, and we are happy to provide the full data of the survey upon request. However, because data marketplaces are a very vivid field and change fast, it has to be pointed out that Kasabi went out of business since the survey was taken.
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