Data Trading and Monetization: Challenges and Open Research Directions

Abstract: Traditional data monetization approaches face challenges related to data protection and logistics. In response, digital data marketplaces have emerged as intermediaries simplifying data transactions. Despite the growing establishment and acceptance of digital data marketplaces, significant challenges hinder efficient data trading. As a result, few companies can derive tangible value from their data, leading to missed opportunities in understanding customers, pricing decisions, and fraud prevention. In this paper, we explore both technical and organizational challenges affecting data monetization. Moreover, we identify areas in need of further research, aiming to expand the boundaries of current knowledge by emphasizing where research is currently limited or lacking.