A data marketplace (or data sharing marketplace) is an online, transactional store that facilitates the buying and selling of data. With the volume of data worldwide continuing to expand exponentially, they have proliferated as data become recognized as a business-critical asset across almost all industries and data monetization grows as a business asset.
Usually accessed via cloud services, common data types for sale range from business intelligence and research data to market and demographic data. Enterprise data marketplace consumers include government, analysts, big business, and market intelligence firms. Universities, SMBs, and consulting firms are also major data purchasers.
Data marketplaces help reduce the cost and effort involved in locating required data sets as well as help data sellers or data-as-a-service (DaaS) providers more easily reach reach potential customers.
The Snowflake Data Exchange: A Modern Data Marketplace
With the Snowflake Data Exchange, data consumers can access and query available data sets and services to drive informed data-driven decisions. Data providers can publish data sets or make data analytics services available to Snowflake customers and turn data into a business asset.
With the Data Exchange, generate more revenue and increase market presence by publishing live, governed, and read-only data sets to Snowflake customers — securely and instantly. With no need to copy or transform data, the Snowflake Data Exchange reduces costs and improves the customer experience.