Opening Soon – Commercial Data Marketplaces for IoT

Opening Soon – Commercial Data Marketplaces for IoT

opening soon commercial data marketplaces for iot image

Episode 67

They say data is the new oil. Well if that’s the case, then like oil, crude data must be refined and packaged to make it useful and consumable. If you believe, like I believe, that all incremental value from an Internet product comes from transforming its data into useful information, then external sources of data, when combined with internal data, can become very valuable, indeed. In this episode of the IoT Business Show, I speak with David Knight about third-party data markets and syndicates.

In this episode of the IoT Business Show, I speak with David Knight about third-party data markets and syndicates.

David is Founder and CEO/CTO of Terbine, the commercial marketplace for data. He’s a serial entrepreneur with a background in multi-spectral sensing, messaging, enterprise software and distributed systems and was the original Executive of the Ansari XPRIZE for private space travel.

Third-party data is valuable only in its ability to improve our cyber models by augmenting them with additional dimensions of fidelity. More accurate models produce better information, which in turn yields more value. Great! But establishing the value proposition is the easy part. The hard part is executing the business, legal and technical gymnastics necessary to package the data into a consumable format. This leads us the unsavory topic of IoT standardization, or more accurately, the lack thereof. Necessary is a fourth layer of standardization, above the media, network and application layers, that standardizes the different forms meta data can take. This is a herculean effort, not only in defining an all encompassing syntax, but in getting it accepted and used. But! If such a data marketplace does become available, I’ll be its first customer.

Here’s What We’ll Cover in this Episode

  • Data as a commodity that’s traded – how does that work?
  • Different use cases where bolting on an extra data source that adds value.
  • The strategy of starting with public data – just like Bloomberg.
  • The best ways to deal with usage terms.
  • One man’s data exhaust is another man’s prize possession.
  • Using Blockchain to credential data buyers and sellers.
  • Autonomous vehicles and Augmented Reality use cases.
  • The business model using commodity pricing.
  • How to technically access the data.

Mentioned in this Episode and Other Useful Links

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Have you seen any successful non-traditional business models work in consumer IoT?