Data at Work

Data Fusion Research Centre (DFRC), the most recent vendor to join DataStreamX, allows businesses to fuel analytics for the real world with situational intelligence on locations and movement of people.

DFRC's data products capture the number of visitors in select districts from Europe and Asia, giving users a representative historical view of people flows in the area. With use cases ranging from retail analytics to city planning, footfall data proves to be highly valuable to any organizational growth strategy. The data is collected in hourly intervals, allowing users to extract accurate information and analyze the crowd's ebb and flow.

In my line of work, many organizations ask me how they can sell data in a secure and scalable way. This questioning is to be expected, since data monetization - and the data economy as a whole - is still a relatively new and growing area of development.

Having been involved in hundreds of these conversations, I've realized that there are two basic questions that that need to be addressed when starting out:

1. “What is the process for monetizing data?”
2. “How do you create valuable data products for external users?”

To answer these questions in a fun way, I've produce the following infographic (and companion guide) that breaks down each step in the process. 

InfoTrie, the newest vendor to join the DataStreamX marketplace, brings to market a product that can enhance stock market predications with the most comprehensive, market-moving metrics - Sentiment Score, News Volume and Buzz, and Intraday Scores. This easy to understand monitoring and predictive analytics tool can benefit individuals, financial institutions, corporations and data scientists alike.

InfoTrie's Daily Stock Sentiment scours news outlets and social media for bullish or bearish sentiment on more than 40,000 listed and unlisted stocks across world equity markets in The Americas, Europe, Middle-East, Africa and Asia-Pacific.

Weather Decsion Tehchnologies, Inc, the newest data vendor on the DataStreamX platform, brings their deep technical expertise on global weather phenonmenon to the DataStreamX marketplace with four data products from their SkyWise product family.

WDT's data products montiors global weather from over 14.000 observation points to give buyers access to robust and reliable real-time and predictive weather information. This information is packaged into four data products that empower businesses to adjust operations given climate trends and the latest weather forecasts.

Like any commercial agreement, data product sales are bound by terms and conditions between a data vendor and data buyer. These T&Cs include service level agreements for uptime and response time, authorizations for use and resale, and technical support for bug fixing and API integration. If a vendor is new to the data economy, these T&Cs may be a daunting task and require significant institutional change.