Data pricing recommendation tool

Whereas data trading is becoming an increasingly popular source of revenue and data monetization is gaining prominence as a business model globally, putting a price tag on a dataset remains notoriously difficult.

Assessing the monetary value of information and other forms of intangible goods is indeed a challenging task. Data is a particularly strange beast, as its economic characteristics make it harder to evaluate.

To help overcome this issue, the team from Athens University of Economics and Business (AUEB), namely Dr. Vasiliki Koniakou, and PhD Candidate Timoleon Farmakis, developed a price recommendation tool, which borrows from cost-, income- and value-based approaches.

Its high-level design includes a combination of qualitative and quantitative methods and is premised on a systematic literature review and rigorous validation methodologies.


Project Management

Data Management Plan, Project Licensing and Intellectual Property Considerations Report V1

Data Management Plan, Project Licensing and Intellectual Property Considerations Report V2

Use Cases, Requirements and Overall i3-MARKET Architecture Specifications

State-of-the-art technology analysis and alignment with related projects

Use Case Definition V1

Use Case Definition V2

Requirement Specification V1

Requirement Specification V2

i3-Market Architecture Specification Final

Trust, Security and Privacy Solutions for Securing Data Marketplaces

Identity and Access Management Specification and Reference Implementation Report

Identity and Access Management Specification and Reference Implementation Report V1

Smart Contracts and Wallets Specification and Reference Implementation Report

Smart Contracts and Wallets Specification and Reference Implementation Report V1

Crypto token and Data Monetization Specification and Reference Implementation Report

Crypto token and Data Monetization Specification and Reference Implementation Report V1

Secure Data Access API Specification and Reference Implementation for Secure Data Access SDK

Secure Data Access API Specification and Reference Implementation for Secure Data Access SDK V1

Backplane for the Integration of Data Platforms and Market Economy

Decentralised Storage Specification and Reference Implementation

Shared Semantic Data Model Repository specification and implementation

Backplane API specification and Documentation

Backplane Operation specification, implementation and documentation

i3-MARKET SDK and Marketplace Reference Implementation

Pilots Deployment, Realisation and Validation

Automotive Industry Data Marketplace Demonstrator, Pilot Deployment and Industry Deployment Report V1

Industry 4.0 Data Marketplace Demonstrator, Pilot Deployment and Industry Deployment Report V1

Human Centric Data for Wellbeing Data Marketplace Demonstrator, Pilot Deployment and Industry Deployment Report V1

Data Management Plan, Project Licensing and Intellectual Property Considerations Report V2

Scenarios Implementation, deployment, testing and execution strategy and plan

Scenarios description and technical specification V2

Sustainability, Business Exploitation and Dissemination

Open Source Community and Ecosystem Building Strategy

Open Source Community and Engagement Report V1

Open Source Community and Engagement Report V2

Legal compliance by-design and by-default

Dissemination, Engagement and Community Building Strategy and Plans

Dissemination and Engagement Report M18

Marketing Study and Positioning Recommendations for Pilots

 i3-MARKET         Book Series               – Open Access –     Forthcoming             in 2024

The i3-MARKET Book Series is an initiative of the i3-MARKET consortium to make all the project information, experiences and results accesible to all publics i.e. General Public, Data Scientists and Researchers, Experience Developers, Entrepreneurs, Innovators and Industry Experts .  The three Books will be available to all public via Open Access in 2024 sponsored by the European Commission through the i3-MARKET Project grant agreement ID 871754 .


Concepts and Design Innovations addressing the Digital Transformation of Data Spaces and Marketplaces                                         Part I: A Vision to the future of Data-Driven Economy                                                                
 The i3-MARKET  Vision to the future of Data-Driven Economy – Abstract

In this first part of the i3-MARKET Book series we begin by discussing the principles of the modern data economy that lead to make the society more aware about the value of the data that is produced everyday by themselves but also in a collective manner, i.e. in an industrial manufacturing plant, a smart city full of sensors generating data about the behaviours of the city and their inhabitants and/or the wellbeing and healthcare levels of a region or specific locations, etc. Data Business is one of the most disruptive areas in today’s global economy, particularly with the value that large corporates have embedded in their solutions and products as result of the use of data from every individual.
i3-MARKET envision a large number of data-driven opportunities emerging for activating new channels of innovation named as Data Marketplaces where the data can be trade and commercialize transparently and with full liberty at the local and global scale while at the same time catapulting data-driven business opportunities for more disruptive data-centric services. i3-MARKET is at the same time a backplane platform that can serve as a set of support tools or a standalone implementation of marketplace services as result of a sharing vision from a representative global group of experts, providing a common vision and identifying impacts in the different sectors where data is produced.

More details here:



Systems and Implemented Technologies for Data-Driven Innovation, Addressing Data Spaces and Marketplaces Semantic Interoperability Needs                                                                                                                                                                                          Part II: Data Economy, Models, Technologies and Solutions                                            

The i3-MARKET Data Economy, Models, Technologies and Solutions – Abstract

Data Economy is commonly referring to the diversity in The use of data to provide social benefits and have a direct impact in people’s life, from a technological point of view data economy implies technological services to underpin the delivery of data applications that bring value and addressed the diverse demands on selling, buying and trading data assets. The demand and the supply side in the data is increasing exponentially and it is being demonstrated that the value that the data has today is as relevant as any other tangible and intangible assets in the global economy. In this second book it is further discuss why Data is the focus in current technological developments towards digital markets and the meaning for data being the next asset to appear evolution in trading markets and at the same time it focuses on introducing the i3-MARKET technology and the proposed solutions.
In this second i3-MARKET series book we start reviewing the basic technological principles and software best practices and standards for implementing and deploying Data Spaces and Data Marketplaces. The book provides a definition for Data-Driven Society as: The process to transform data production into data economy for the people using the emerging technologies and scientific advances in data science to underpin the delivery of data economic models and services. This book further discuss why Data Spaces and Data Marketplaces are the focus in todays data-driven society as the trend to rapidly transforming the data perception in every aspect of our activities. In this book technology assets that are designed and implemented followed the i3-MARKET backplane Reference Architecture (RA) that uses Open Data, BigData, IoT and AI design principles are introduced. Moreover, the series of software assets grouped as sub-systems and composed by software artefacts are included and explained in full. Further, we describe i3-MARKET backplane tools and how these can be used for supporting Marketplaces and its components including details of available data assets. Next, we provide description of solutions developed in i3-MARKEt as an overview of the potential for being the reference open-source solution to improve data economy across different data marketplaces.

 More details here:



Technical Innovation, Solving the Data Spaces. and Marketplaces Interoperability Problems for the Global Data-Driven Economy
Part III: The i3-MARKET FOSS Handbook                                                                        

The i3-MARKET FOSS Handbook – Abstract

Technology deployment tools, software development frameworks and testbed tools (sandboxes) are popular these days, to facilitate the complexity of deploying applications and services based on complex software packages, from a practical point of view the deployment and testing of software technology should not be an burden anymore as per the large number of technologies that exist but also because the evolution of these software tools is indicating sooner than later this will only relay in having powerful systems capable to run such complex frameworks and the rest is just provide few steps to configure and execute the deployment. The reality is a bit different, while there are excellent tools to deploy and run software virtually everywhere, the technology must run in specific computing infrastructures with well-defined specifications and functionalities.
In this third i3-MARKET series book we are focusing in including the best practices and simplest software methods and mechanisms that allow the i3-MARKET backplane reference implementation to be instantiated, tested and validated even before the technical experts and developers’ community decide to integrate the i3-MARKET as a reference implementation or Adopted Open-Source Software tools. At this book the purpose of offering a guidebook for technical experts and developers is addressed, the so-called industrial deployment or pilots need to have clear understanding of the technological components but also the software infrastructures, alike the steps to be followed to avoid overwhelm the deployment activity. I3-MRKEt has three industrial Pilots defined in terms of data resources used to deploy data-driven applications that uses the most of the i3-MARKEt backplane services and functionalities. The different software technologies developed, including the use of open-source frameworks, within the context of the i3-MARKET is considered as a bill of software artefacts of the resources needed to perform demonstrators, proof of concepts and prototype solutions. The i3-MARKET handbook provided can actually be used as input for configurators and developers to set up and pre-test testbeds and therefore it is extremely valuable to organizations to used properly.

More details here: 

i3-MARKET Book Series – River Publishers Link

The i3-MARKET book Series are open access and the softcopy version will be available for download in 2024, additionally if you interested for getting a printed hardcopy version please visit the publishers website for more details.


– i3-MARKET Unveiling Data Marketplace Requirements White Paper 2020 <>

– Perspectives and Horizons for Data Marketplaces: focusing on interoperability and Open-Source Solutions for the Internet of Things – i3-MARKET Workshop (Hackathon) at IoT Week 2022

– 2021 Inter-OSS Interoperability and Open Source Solutions Workshop <>

– Prof. Dr. M Soriano; Prof. Dr. J Lopez, Special Issue “Security and Privacy for Data Decentralized Marketplaces”. Electronics (ISSN 2079-9292) <>

– A Anjomshoaa; SC Elvira; C Wolff; JC Pérez Baún; M Karvounis; M Mellia, Data Platforms for Data Spaces. Data Spaces: Design, Deployment and Future Directions, 43-64. <>

– A Zappa; CH Le; M Serrano; E Curry, Connecting Data Spaces and Data Marketplaces and the Progress Toward the European Single Digital Market with Open-Source Software. Data Spaces: Design, Deployment and Future Directions, 131-146. <>

– Mohammadzadeh, N.; Nogoorani, S.; Muñoz, J. Decentralized Factoring for Self-Sovereign Identities. Electronics. 2021. Volume: 10. Number: 12. <>

– Genés-Durán, R.; Hernández-Serrano, Juan; Bellés-Muñoz, M.; Esparza, O.; Muñoz, J. DEFS – Data Exchange with Free Sample Protocol. Electronics. 2021. Volume: 10. Number: 12. <>

– Bellés-Muñoz, M.; Baylina, J.; Daza, V.; Muñoz, J. New Privacy Practices for Blockchain Software. IEEE software. 2021. <>

– Mohammadzadeh, N.; Nogoorani, S.; Muñoz, J. Invoice Factoring Registration Based on a Public Blockchain. IEEE access. 2021. pp.: 1 ~ 1. <>

– Genés-Durán, R.; Yarlequé-Ruesta, D.; Bellés-Muñoz, M.; Jimenez-Viguer, A.; Muñoz, J. An architecture for easy onboarding and key life-cycle management in blockchain applications. IEEE access. 2020. Volume: 8. pp.: 115005 ~ 115016. <>

White Paper: Plug your Data to the World via an Open, Trusted and Reliable Marketplace Backplane; Susanne Stahnke, Siemens; Vasiliki Koniakou, AUEB; Martin Serrano, NUIG; Birthe Boehm, Siemens; Stratos Baloutsos, AUEB; Raul Santos, ATOS. Download Here

– Design Principles supporting the Creation of Tools for the Interoperability of European Digital Data Spaces and Marketplaces; Achille Zappa and Martin Serrano, NUIG. Download Here.


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The i3-Market project has received funding from the European Union’s Horizon 2020 Research and Innovation Programme under grant agreement no. 871754.