A classification framework for data marketplaces

Abstract

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.