Without a doubt, data trading is becoming an increasingly popular source of revenue. In particular data monetization, a practice that is gaining ground as a valuable business model across all sectors and industries. However, as much as our society is moving towards this direction, putting a price tag on a dataset remains notoriously difficult.
Assessing the monetary value of information and other forms of intangible goods still constitutes a challenging task.
Data is a “strange beast”, meaning that its economic characteristics make it harder to evaluate. It is non-rival, it has several positive and negative externalities, while commonly its value is not necessarily apparent to its owner, and may significantly increase if combined, or if it is further analyzed.
To overcome this issue, authors Dr. Vasiliki Koniakou, Dr. Stratos Baloutsos, Timoleon Farmakis (PhD Candidate) from Athens University of Economics and Business (AUEB), and contributor James Philpot (European DIGITAL SME Alliance) developed a price recommendation tool, which borrows from cost-, income- and value-based approaches.
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