A data marketplace, sometimes also known as a data exchange, is an online transactional location or store that facilitates the buying and selling of data. As many businesses seek to augment or enrich internal data sets with external data, cloud-based data marketplaces are appearing at a growing rate to match data consumers with the right data sellers.
Typical data types for sale in a data marketplace can range from business intelligence and research, demographic, firmographic, and market data to business intelligence and public data. A data marketplace is a more public (and sometimes commercial or monetized) form of data sharing. Data sharing has a long history in academic, research, and public policy circles but has in recent years made enormous inroads into private enterprises, from big business to analyst, consulting, and market intelligence firms. Data consumers include government, analysts, big business, and market intelligence firms. As data volumes continue to explode and machine learning and AI become more important in decision-making, data marketplaces are helping organizations reduce the effort and cost involved in locating required data sets and helping data providers extend their market reach.
A part of the Data Cloud, Snowflake Marketplace provides data scientists, business intelligence and analytics professionals, data scientists, and others who depend on data-driven decision-making live access to ready-to-query data from an ecosystem of business partners and customers, as well as potentially thousands of data and data service providers. With Snowflake Marketplace, source data faster and more easily, reduce analytics costs, and monetize data.