Definition - What does Data Marketplace mean?
A data marketplace is a specific venue created for the buying and selling of data. This idea relies in large part on the rapid advance of technology, which has results in a data-rich environment where enormous amounts of data are routinely collected by many different parties.
As it became clear that these data assets could be bought and sold, data marketplaces emerged.
Techopedia explains Data Marketplace
Features of data marketplaces involve setups that allow for the purchase of specific types of data in specific formats.
Selling data in a particular format helps make them more usable to the buyer. Although many types of data can be bought and sold via data marketplaces, some common types of data marketplaces involve selling information about consumers, demographic data, personal data, or a mix of both.
Critics of this kind of data commerce have raised the question of how much of the commercial data is fairly and transparently collected, and whether there can be full oversight for these markets.
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