Abstract:
Data matter. How can we quantitatively and objectively evaluate data? Pricing data, or information goods, has been studied and practiced in many disciplines, including economics, marketing, electronic commerce, data management, data mining, and machine learning. This article provides a comprehensive, interdisciplinary overview of this important direction. We examine data pricing motivations, economics, and pricing model development and evolution according to fundamental principles. We discuss data and digital products. We also consider challenges and future work.
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