Features and transaction modes of data products in data markets

Abstract

Developing the markets of data as a factor of production is the key in the efficient allocation of data factor.However, the early practices of data markets in China have revealed a series of problems, which urgently calls for a systematic review and analysis on the data market theoretical mechanisms.The circulation process of data products was analyzed from different perspectives, such as transaction cost theory, electronic market framework, and electronic trading mode.And it was further proposed that the effects of the data computability were two-fold.On the one hand, the computability enabled data to be analyzed so as to fit in the specific demand in certain industries.On the other hand, the computability was also likely to remove the data transaction process from the market, also known as platform disintermediation.Based on the classical theoretical framework of electronic market, the offerings of data products were divided into four quadrants and analysis was conducted correspondingly.Finally, suggestions for data product suppliers and data transaction platform providers were put forward.

Keywords

• data factor;data product;electronic market;transaction pattern;platform disintermediation