The Economics of Data: Quality, Value & Exchange in Web Observatories
2015-07-09 - Business Models / Studies & Surveys / Theory
The aim of this paper is to present a requirement for assessing the
quality of data and the development of efficient methods of
valuing and exchanging data among Web Observatories. Using
economic and business theory a range of concepts are explored
which include a brief review of existing business structures
related to the exchange of goods, data or otherwise. The paper
calls for a wider discussion by the Web Observatory community to
begin to define relevant criteria by which data can be assessed
and improved over time. The economic incentives are addressed
as part of a price by proxy framework we introduce, which is
supported by the need to strive for clear pricing signals and the
reduction of information asymmetries. What is presented here is a
way of establishing and improving data quality with a view to
valuing data exchanges that does not require the presence of
money in the transaction, yet it remains tied to revenue generation
models as they exist online. [Source]
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