Introduction: Why A Market of Data? A Solution for Innovations

Teruaki Hayashi and Yukio Ohsawa
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Teruaki Hayashi: The University of Tokyo
Yukio Ohsawa: The University of Tokyo

Chapter Chapter 1 in Tools for Activating Data Marketplace, 2022, pp 1-14 from Springer

Abstract: Abstract Human history has been a series of relentless efforts and actions of accumulating knowledge by finding patterns and insights from data obtained by observing complex and strange phenomena in the real world. Currently, data have become the key to economic growth and have been described as the “new oil.” In this climate, a new form of market for exchanging data with others for gaining new perspectives and interpreting and creating technologies are emerging. The data marketplace is where data and the products from data are treated as economic goods and the stakeholders of data businesses communicate with each other to cultivate a deeper understanding of the data usage. Even before the worldwide movements of big data and AI, authors have been focusing on information technology that contributes to interdisciplinary collaboration, knowledge sharing, and decision making, and have been conducting research. In this chapter, we show the fundamental concept and the meaning of the data marketplace for innovations with the role of data, the current state of the data businesses in the ecosystem, and their introduction examples from the social backgrounds and requirements.

Keywords: Market of data; Data exchange; Value exchange; Data platform; Information; Knowledge (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:undchp:978-3-031-06145-5_1

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DOI: 10.1007/978-3-031-06145-5_1

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