Data market means exactly what everyone imagines it to mean – a digitally accessible marketplace within a company where employees can “buy” the data they need for their work. So-called data marketplaces typically offer different types of data for different markets and from different sources. The biggest demand is for data from business intelligence, advertising statistics, demographic and personal data, surveys and market data.
There is also the phenomenon of data markets, which are publicly available so that publicly available data can be purchased. Data sharing has a long history, mainly in academic circles, but in recent years it has begun to penetrate private companies in a variety of industries. Data demanders include government, analysts, large enterprises, and market intelligence firms. The amount of data is constantly growing, and machine learning and artificial intelligence are increasingly important in executing decisions. Data marketplaces help organisations save the effort and money associated with finding the data sets they need.
With services such as Qlik Sense® Data Sources, Snowflake Data Marketplace, it is possible to get data faster and easier, while making analysis cheaper and monetizing data. Snowflake Data Marketplace is part of the Data Cloud and provides its users with access to ready-to-run query data from an ecosystem of business partners, customers, and potentially thousands of data and data service providers.
The concept thus has two levels, namely an internal data market from the company’s perspective and a public data market(place) with ready-to-go publicly available data.
