Data Liquidity: Data Exchange Platforms as Drivers of Innovation
As the next phase of the internet unfolds with the rise of embedded sensors and communication devices across cities, workplaces, homes and on our bodies, often referred to as the Internet of Things (IoT), a market is emerging for the trading of data generated by these devices. This paper explores some of the business models being deployed by data exchange operators and uses a framework provided by research into technology platforms to evaluate the opportunities and challenges these companies face. This is a new and relatively unexplored area of research and offers interesting insights for both researchers and practitioners seeking to understand the key drivers of innovation for data exchange stakeholders. At a practical level, the purpose of the paper is to help managers understand the different types of exchanges which are emerging, how they work, the competitive forces shaping them and the questions to ask before using one.
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