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Data Properties as Economic Goods and Data Markets
24 October 2019 @ 8:00 - 9:30
The IG-DE meeting at RDA14 will continue building on the interest from the community and entusiasm of the researchers and practotioners working with research data, industrial data and data exchnage infrastructure. The IG also plans to benefit from the recent Horizon 2020 call on emerging data markets that will create few strong research centers in Europe on topics related to data markets and data economics.
Emerging data driven technologies and economy facilitate interest to making data a new economic value (data commoditisation) and consequently identification of the new properties of data as economic goods. Creating consistent and workable models for data exchange and commoditisation is critical to facilitating research data usage, creation of new value added data driven services bringing additional resources to research organisations. Consistent data pricing and data markets models are equally important for government funded and sponsored research, open data and governmental data. A number of examples from industry demonstrate practical interest to facilitate and obtain value from data exchange, interoperability, and adopting common architectures for data markets.
As part of this trend, existing business models of paid or commercial data(sets) services such as archives are based rather on services subscription fee. Quality of datasets in many cases is assessed by independent certification body or based on peer review by expert. This type of model is useful for specific use cases, although this does not provide a consistent model to make data an economic goods and enable data commoditisation. Another key factor is growing interest in making the best use of research data resulted in formulation of the FAIR (Findable – Accessible – Interoperable – Reusable) data principles, which are widely supported by industry and business.
The IG meeting will address issues related to data commoditisation, first of all definition of properties that will make effective data exchange and trading.