20th AIAI 2024, 27 - 30 June 2024, Corfu, Greece

Market Analysis of a Data Platform in the European Data Ecosystem

Gabriel Castane, Alejgandro Martinez, Qusai Ramadan, Zaneta Gkika, Panagiotis Mpempis, Eduardo Vyhmeister

Abstract:

  In the era of data analytics, industries can use data to enhance market anal-yses and seek better opportunities for current, or new, business opportuni-ties. Furthermore, companies can consider their data as an intangible asset, allowing expansion, by a proper market analysis, and economic opportuni-ties through data monetization. These strategies define the use of data for in-direct and direct purposes. Despite the idea of adopting data monetization practices, a considerable gap exists between expectations and reality. For ex-ample, the definition of strategies, methods, and analyses to perform data valuation. This gap necessitates a comprehensive exploration considering the different nuisances of data monetization. To achieve a broader understand-ing of the data monetization landscape, a market evaluation, through an ex-ploration of the market environment and the stakeholders involved, is neces-sary. The present work contributes to this understanding by facilitating a market analysis for data valuation within the European community. This analysis aims to shed light on critical aspects influencing the valuation of da-ta in the European context, offering insights into the market dynamics, emerging trends, and the evolving landscape of data monetization strategies within this region.  

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