What happens when data becomes something organizations can exchange, combine, analyze, and turn into products, services, or new revenue? That is the data economy: a system in which data moves between suppliers and consumers and gains value through reuse. Data exchanges and marketplaces reduce the friction of finding, acquiring, integrating, and sharing data, while data pooling can produce insights greater than those available from separate sources. section 6.6 section 6.0
The system is changing from a closed model dominated by centralized companies toward a more open ecosystem in which individuals can take a more active role in how their data is used. That transition creates opportunities, but it also raises practical questions: who owns data, how should it be priced, whom can participants trust, and how should transactions be supervised? section 6.6 section 6.0
The Shanghai Data Exchange
Announced in November 2021, the Shanghai Data Exchange initially listed 20 products across eight industries, including finance, transportation, communication, and energy. State Grid Shanghai could turn electricity data into a processed, value-added service designed to meet security requirements and buyer demand. The exchange addressed obstacles that commonly make data trading difficult, including ownership, pricing, trust, transaction initiation, and oversight. section 6.6
As the data economy expands, expect supporting systems and services to grow around it:
- Legal and consulting services will help organizations and consumers interpret and comply with new data laws. section 8.1.4
- Technology companies will provide data monetization, exchange, security, payment, and data-management platforms. section 8.1.4
- Individuals and groups may gain tools to access, manage, delete, or monetize their data according to their goals. section 8.1.4
