Data Exchange platforms allow businesses to transmit and procure or enrich data without its inherent meaning being altered during acquisition. Data is transmitted in such a way to be easily consumed by a receiving system(s), many times normalizing the data outright. These exchanges often feature data-as-a-service capabilities as a key component, where industry, market, source, or subject matter data can be acquired en masse to fuel data-driven insights and market intelligence. While product, marketing, and business strategy teams can utilize the data acquired through these solutions for planning and driving initiatives, the data can also be used to fuel machine learning training and development. A variety of data solutions can work in conjunction with data exchanges, including data management platforms (DMPs), data mapping software (when moving acquired data into storage), and data visualization software for converting data to readable dashboards and graphics.
To qualify for inclusion in the Data Exchange category, a product must:
- Transmit data without altering the data’s inherent meaning
- Normalize transmitted data for easier consumption by the receiving system
- Facilitate market, industry, source, or subject matter data-as-a-service acquisition
- Integrate with other data-oriented solutions
