Introducing the enterprise data marketplace: a platform for democratizing company data

Abstract

AbstractIn this big data era, multitudes of data are generated and collected which contain the potential to gain new insights, e.g., for enhancing business models. To leverage this potential through, e.g., data science and analytics projects, the data must be made available. In this context, data marketplaces are used as platforms to facilitate the exchange and thus, the provisioning of data and data-related services. Data marketplaces are mainly studied for the exchange of data between organizations, i.e., as external data marketplaces. Yet, the data collected within a company also has the potential to provide valuable insights for this same company, for instance to optimize business processes. Studies indicate, however, that a significant amount of data within companies remains unused. In this sense, it is proposed to employ an Enterprise Data Marketplace, a platform to democratize data within a company among its employees. Specifics of the Enterprise Data Marketplace, how it can be implemented or how it makes data available throughout a variety of systems like data lakes has not been investigated in literature so far. Therefore, we present the characteristics and requirements of this kind of marketplace. We also distinguish it from other tools like data catalogs, provide a platform architecture and highlight how it integrates with the company’s system landscape. The presented concepts are demonstrated through an Enterprise Data Marketplace prototype and an experiment reveals that this marketplace significantly improves the data consumer workflows in terms of efficiency and complexity. This paper is based on several interdisciplinary works combining comprehensive research with practical experience from an industrial perspective. We therefore present the Enterprise Data Marketplace as a distinct marketplace type and provide the basis for establishing it within a company.