A Classification Framework for Data Marketplaces

Vomfell Lara, Stahl Florian, Schomm Fabian, Vossen Gottfried

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 becollected, processed, enriched, bought, and sold. They are effectively changing the way datais distributed and managed on the Internet. To get a better understanding of the emergence ofdata marketplaces, we have conducted several surveys in recent years in order to systematicallygather and evaluate their characteristics. This paper takes a broader perspective and relates datamarketplaces to the neoclassical notions of market and marketplace from economics. We providea typology of electronic marketplaces, and discuss their approaches to a distribution of data. Lastly,we provide a distinct definition of data marketplaces in order to integrate these new businessesinto existing research frameworks, leading to a classification framework that can help structuringthis emerging field