Data Trading and Monetization: Challenges and Open Research Directions

TL;DR

This paper discusses the challenges faced by digital data marketplaces in data trading and monetization, highlighting technical and organizational issues, and identifies open research directions to improve data value extraction.

Contribution

It provides a comprehensive analysis of current challenges in data trading and proposes future research areas to address these limitations.

Findings

Digital data marketplaces face significant technical and organizational challenges.

Few companies effectively monetize their data due to these challenges.

Research gaps exist in optimizing data trading and value realization.

Abstract

Traditional data monetization approaches face challenges related to data protection and logistics. In response, digital data marketplaces have emerged as intermediaries simplifying data transactions. Despite the growing establishment and acceptance of digital data marketplaces, significant challenges hinder efficient data trading. As a result, few companies can derive tangible value from their data, leading to missed opportunities in understanding customers, pricing decisions, and fraud prevention. In this paper, we explore both technical and organizational challenges affecting data monetization. Moreover, we identify areas in need of further research, aiming to expand the boundaries of current knowledge by emphasizing where research is currently limited or lacking.