Digital exchanges are quickly becoming an important part of the data economy. In every industry, the ability of organizations to exchange data internally and externally is a powerful enabler to solving business challenges driven by rapidly evolving customer needs, dramatic societal and environmental changes.
By connecting data suppliers and consumers through a seamless experience and, by eliminating the friction from finding, acquiring, and integrating data, it is easier for organizations to monetize its data assets and create new revenue streams.
Organizations can share, monetize, and exchange data securely and in compliance with regulations, thanks to data exchange and datamarketplaces.
A data exchange allows data to be transferred more easily between a data producer a data consumer. A data producer is traditionally a data broker, data syndicator, or open data provider. However, it can be every organization that wants to share or sell its own data. Any individual or corporation that want to acquire or purchase data is referred to as a data consumer.
Important is the relationship between data producers and consumers and how they engage with each other to share data. There are three types of data exchanges that define this relationship:
Peer-to-Peer Data Exchange. A peer-to-peer exchange facilitates direct data sharing between two companies or between two or more departments.
Private Data Exchange. A private data exchange within an industry consortium, where private (for example insurance) is collected, standardized an distributed it to participating members and regulators.
Data Marketplace. A data marketplace is a public data exchange open to any company that wants to produce or consume data. Some marketplaces are global in scope, spanning every industry, function, and type of data.
Marlin SCX supports the first two modes.