Foundations for Data Marketplaces: How to Build a Robust Data Supply Chain
November 29, 2022 at 02:00 pm EST
Data marketplaces form the centerpiece of the new data economy. They make it easy for companies to buy, sell, or exchange data products in a frictionless manner. Data suppliers use marketplaces to package, publish, and distribute data products, while data buyers use them to search, browse, acquire, and ingest those products.
There are many types of data marketplaces. Some are public, open to any buyer and seller. Others center around a single sizable data supplier or data buyer. Still others are internal, fostering the exchange of data products among disparate business units. Modern data marketplaces provide numerous value-added services that go well beyond static product lists and file transfer links. They actively vet and recommend data products; they check data quality and schema changes; they enrich customer data sets with multi-vendor data; and they host collaborative workspaces for buyers and sellers to validate, filter, and augment data products.