Shopping for Value at the Data Marketplace

Shopping for Value at the Data Marketplace

Episode 114

T o truly use the Internet of Things in its fullest capacity – more than connected and more than smart – we look beyond our internal sources of data and venture onto the Internet to seek out external sources of data that when mashed with our sensor data, creates more valuable information. This can be done piecemeal by connecting directly to microservices, but a new source has popped up lately. In this episode of the IoT Business Show, I speak with Carl Rodrigues about data marketplaces and how to shop there for value.

In this episode of the IoT Business Show, I speak with Carl Rodrigues about data marketplaces and how to shop there for value.

Carl is Advisor and Partnerships Ambassador to Streamr Network. He’s responsible for developing proof of concepts with key partners with a focus on the automotive, smart cities and transport sectors and he brings with him over 20 years of experience in building and championing data-driven startups.

Data is transformed into useful information which creates value. Generally speaking, we have two sources of data available to us. Internal data – that is the data we collect from our sensors and business systems, and external data – that is other people’s (company’s) data that we access on the Internet. Data marketplaces or data exchanges or what I like to call, datamarts, are evolving into places of true value. These are still early days, so they are initially providing discoverability and standardized access, but over time they will offer normalized data and meta data that will plug and play into your IoT application or analytics.

Here’s What We’ll Cover in this Episode

  • How data pricing is set
  • How smart contracts are used
  • The data exchange business model
  • The symbiotic relationship between data publishers and data subscribers.
  • Technical approach to accessing data
  • Different ways to share data.
  • Applying the wisdom of the crowd to raw data

Mentioned in this Episode and Other Useful Links

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Have you used a data marketplace?