Don`t buy a pig in a poke a framework for checking consumer requirements in a data marketplace

Abstract

The 21st century is the century of data. Data is the new oil and powers many new applications and business models. The increasing value of data leads to the fact requires new possibilities and methods to trade with “data” as a trading good. One of these possibilities is a data marketplace, a digital e-commerce platform like eBay or Amazon, but specifically targeting data, information, and datasets. Since, other than physical trading goods, data is not so easy to verify, a framework is required to characterize data and to validate data against user requirements. This leads to a conflict between security and privacy requirements of data providers and the necessity of checking the data consumer requirements. In this paper, we discuss the specific challenges of data trading and introduce a framework to help users check their specific requirements (Data Quality) as a reference point for a purchase decision.