On the road to a data-driven enterprise, new data architectures are a central theme. The trend is toward decentralized or federated architectures, with both goals of shortening the time from data availability to insight and opening up data-informed work to a broader range of users, i.e., including experts from business departments.
Ideally, companies will reach a level of maturity in digitization where business users can explore data and data products in the data catalog according to the self-service principle. From there, the next step is not far: defining data products that can be used outside the company itself. The target group is primarily partners in the company’s own ecosystem as well as external companies. If the data products are high-quality and relevant, there are monetization opportunities.
To offer the data products on external data marketplaces, either an existing data catalog can be further developed into a data marketplace solution or an external data marketplace solution is implemented. Likewise, participation in a third-party data marketplace is conceivable.
The article by our experts Thorsten Warnecke and Mashood Ahmad at bigdata-insider.de summarizes the requirements and fundamentals for data marketplaces.
