About the Event
Today's data-driven businesses generate and utilize a wide range of data for each business's purpose in a closed, proprietary data collection or distribution system. However, businesses often lack some data needed to realize their ultimate goals while under-utilizing some other data. Therefore, the value of existing data may significantly increase if the data could be bought or sold in an open, fair marketplace. Such a data trading system simplifies multilateral data trading, enhances interoperability, and incentivizes monetizing data, thus expanding the available data pool and the ways the data may be utilized. Each instance of the data trading system is to be operated by a neutral party, under the standardization proposal we seek to develop. Such a standard should incorporate, in addition to the market function, adequate mechanisms to ensure the data quality, limit fraudulent activities, and address privacy concerns. Initiative Outcomes: Proposed deliverables and outcomes from this Industry Connections activity may include documents (e.g., white papers, reports), proposals for standards, conferences and workshops, databases, computer code, etc. This activity proposes drafting the PAR that will serve as the basis to form a new standards working group for a general standard for data trading scheme that is not dependent on the particular data type and protocol, and we expect to create related, more specific, standards proposals under that WG.
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