Hello everyone, I am Dugufeng, the author of Big Data Flow.
In March of this year, the National Data Bureau announced its establishment. Data strategy rises to national strategy.
A scientific, reasonable and timely national data strategy is of great significance to promote national development and enhance governance capabilities. It is related to the country's strategic layout and future development.
It is said that data is the new oil of the 21st century, so can we trade data like oil? The answer is yes. In recent years, new terms such as "data trading market" have emerged. So what is it and how can we move forward?
What is the data trading market?
Simply put, it is an open platform or mechanism on which different individuals or organizations can exchange and trade data.
For example, if Xiao Wang has the mobile phone number data of a batch of consumers, and Xiao Li has the location data of a batch of consumers. If the two batches of data are combined, insights into consumers' purchasing habits can be gained. In this way, Xiao Wang and Xiao Li can reach an agreement in the data trading market, you exchange data one by one, and both parties get new value.
For another example, a data company collects operational data of a certain industry and sells it to investment companies that need the data. Hospitals can sell anonymized case data to scientific research institutions. This is how the buying and selling of data takes place.
The data trading market must have reliable data
To conduct data transactions, the credibility of the data must first be guaranteed. The authenticity and accuracy of porque data is the basis of the transaction.
Specifically, the party providing the data should be responsible for the quality of the data, ensuring that its collection process complies with the norms and does not contain wrong information. At the same time, the data should be de-identified to avoid leaking personal privacy.
Both parties to the transaction can use technical means to prove that the data in the transaction has not been tampered with. The entire transaction process should also be traceable and auditable.
Only by doing this can the trust between the data provider and the user be established, so that high-value data can be successfully traded.
To establish a data pricing mechanism
Since you want to buy or sell, you have to negotiate the price. What kind of pricing mechanism should be established to balance the interests of different parties?
A reference idea is to consider multiple factors such as data scarcity, uniqueness, quality, and influence to set prices. Data with high scarcity or good quality can be sold for a good price.
Of course, avoid overestimating or underestimating the value of data. A quotation system similar to that of stocks can be established, and the price is jointly affected by buyers and sellers. An auction can also be used to determine the transaction price of the data.
In addition to direct buying and selling, a pay-per-use approach can also be adopted. Or just trade data insights instead of buying and selling data directly. This allows for increased pricing flexibility.
Protecting data privacy is very important
In transactions, we must pay special attention to protecting data privacy. Only the anonymized data can enter the market transaction. Otherwise, there will be a huge risk of privacy leakage.
The buyer must also abide by the agreed restrictions when using the data, and cannot re-associate the data with an individual or use it for other purposes than the agreed purpose. Violations must be severely sanctioned.
At the same time, for some sensitive data, consideration should be given to setting up barriers to entering the market, prohibiting or restricting transactions, in order to prevent negative impacts.
Only by solving the problem of data privacy protection can the trading market develop healthily. This requires both technical means and legal supervision.
Data transactions also require fair competition
Like other markets, it is important to establish a level playing field. Prevent one party from monopolizing data or manipulating the market by improper means.
Consider limiting the market share of a single institution. A data property rights system can also be established to protect the rights and interests of data providers.
For some data with public value, government departments can also consider intervening in the provision to ensure fair access.
Only with the cooperation of all parties can the rights and interests of users, enterprises, governments and other parties in the data market be protected.
The data trading market has a bright future
With the continuous expansion of data scale, the data transaction market has broad development prospects. It can release the huge value of data and bring about a new model of data sharing and co-governance.
However, as we have discussed, in order to promote the marketization of data, it is necessary to further improve the protection mechanisms such as technology, regulations, and ethics. But as long as all parties work together, the data trading market will surely become a new blue ocean for the digital economy. We expect data resources to become a valuable shared asset of society like oil.
Big data flow: focus on knowledge sharing related to big data, data governance, and artificial intelligence .
The author, Dugufeng, is a port worker who changed careers to become the person in charge of big data in a state-owned enterprise.
Provide big data, data governance, artificial intelligence related technical practice and theoretical learning and exchange groups.
Big data flows, and learning never stops.
