This IDC Perspective provides a definition of data marketplaces, why they are an important construct in the data as a service market, and different ways that they manifest themselves. It explains the advantages for both buyers and sellers and provides examples of closed and open marketplaces. It also provides information about alternative marketplace constructs.
"The costs of searching for a data set — or a customer for your enterprise's data-as-a-service offering — can be quite high. Data marketplaces can make those connections because they bring together a larger number of data offerings and a pool of potential buyers," said Lynne Schneider, research director, Data as a Service. "Teaming up with a well-known solution in a closed marketplace can significantly speed up the ability to use DaaS and make the service economical for a broader group of enterprises. The open marketplaces provide a flexible option for a wide variety of offerings and use cases. Participation in data marketplaces is experiencing rapid growth."