What makes Databroker different from other data marketplaces?
Published in: Economy
Databroker is the marketplace for data, but how exactly does it work? What makes Databroker different from other data marketplaces? In this article, we’ll answer these questions and more. Let’s look under the hood at how Databroker works.
The next-generation marketplace for data
Databroker.global is both a business data marketplace and a sensor data marketplace, with an intuitive, user-friendly interface that makes it easy for both data sellers and buyers to find just the right match. It enables the secure exchange of data in a wide variety of forms and for a wide range of use cases, and it offers data providers the opportunity to develop new services, create new business models, and monetise their data assets.
“Firms that exploit next-generation data marketplaces will gain a digital edge.”
Designed to ensure trust
Databroker uses blockchain as foundational infrastructure. By allowing participants to verify rather than trust, blockchain-supported systems remove the need to rely on centralized intermediaries (third-party servers hosted by cloud infrastructure providers) to facilitate transactions. This is important for allowing organisations to remain compliant to increasingly stringent data storage regulations.
You decide what you sell and how you sell
By providing this critical infrastructure, Databroker frees you to define your data products and price them as you wish. You can:
- set a fixed price in EUR, with no bidding allowed;
- set a price in EUR but also allow bidding; or
- choose not to set a price, and work only with bids
When you share a free data product or sell a data product, you can choose if it can be accessed and purchased privately or publicly.
No reliance on a third-party dedicated cloud infrastructure
Data from a data product that is sold or shared is not stored on the Databroker platform. Instead, it is safely and securely transferred directly from the data provider to the buyer.
This is made possible thanks to a piece of software developed by Databroker called the Data eXchange Controller (DXC). The DXC is installed by the Data Provider.
Databroker focuses on all types of data exchange, not just real-time data exchange
Three data source formats are supported:
- Data files. These can be any format, including zip files. Data Users can access static files and even subscribe to monthly files updates;
- Data streams. These are typically “pushed data” from the Data Provider directly to the Data User’s server. Data streams could be, for example, temperature data sent at a periodic frequency (e.g. every 15 minutes) or event based (e.g. alerting).
- API flows. These are growing in popularity as they provide a bi-directional service with more functions compared to files. As an example, a Data User can query an API to get a list of all cities where the temperature increased by at least 20% during the last decade. Using a file, the same Data User would need to process all the data from the file before answering the same query. APIs also reduce the amount of data to be exchanged and stored on multiple servers.
Personalised DataMatch service
Additionally to providing a blockchain-supported decentralised marketplace where buyers and sellers exchange data on a peer-to-peer basis, Databroker integrates a team of expert DataMatch Advisors. These are industry insiders who have the knowledge of the data market, industries and can match buyers’ needs with the available data assets of sellers.
At Databroker, we are proud to work with a global network of trusted partners. Together we share the vision of transforming data into real business value, for both data buyers and sellers.
As a data buyer perusing the Databroker marketplace, you may see data assets offered that are similar to your needs, but that don’t meet them exactly. In this case, you can reach out to a Databroker DataMatch Advisor. The DataMatch Advisor will contact existing data providers to see if they have the needed data sets. Advisors also draw from a wide list of industry contacts who have not yet listed data assets on Databroker.
Would you like to know more about Databroker? Get in touch at email@example.com