Data Trading and Monetization: Challenges and Open Research Directions
Qusai Ramadan, Zeyd Boukhers, Muath AlShaikh, Christoph Lange, Jan Jürjens
TL;DR
This paper surveys the data trading and monetization landscape, focusing on how data marketplaces address privacy, transfer costs, and governance challenges. It analyzes centralized, decentralized, and federated marketplace architectures and reviews EU-driven initiatives and standards (IDS-RAM, Gaia-X) shaping interoperable data spaces. The authors identify eight open research directions spanning technical (security, transparency, data quality, efficiency, semantic interoperability) and organizational (business models, legal frameworks, awareness) aspects. Limitations include reliance on academic perspectives and an EU-centric view, with a call for industry collaboration and broader regional analysis to generalize findings.
Abstract
Traditional data monetization approaches face challenges related to data protection and logistics. In response, digital data marketplaces have emerged as intermediaries simplifying data transactions. Despite the growing establishment and acceptance of digital data marketplaces, significant challenges hinder efficient data trading. As a result, few companies can derive tangible value from their data, leading to missed opportunities in understanding customers, pricing decisions, and fraud prevention. In this paper, we explore both technical and organizational challenges affecting data monetization. Moreover, we identify areas in need of further research, aiming to expand the boundaries of current knowledge by emphasizing where research is currently limited or lacking.