Data monetization (DM) has become a relevant aspect of the industrial manufacturing. Consequently, this paper proposes a theoretical framework as well as a mathematical model to price industrial data. For this purpose, three characteristics of the data were considered, i.e. 1) quality; 2) entropy and 3) value. Besides, the role of data marketplace’s players was analyzed. In order to validate the economic equation, a case study was carried out by a Spanish manufacturer.
A pricing model to monetize your industrial data / Mendizabal-Arrieta, Gorka; Castellano-Fernández, Eduardo; Rapaccini, Mario. - In: FRONTIERS IN MANUFACTURING TECHNOLOGY. - ISSN 2813-0359. - ELETTRONICO. - 3:(2023), pp. 1-11. [10.3389/fmtec.2023.1057537]
A pricing model to monetize your industrial data
Rapaccini, Mario
2023
Abstract
Data monetization (DM) has become a relevant aspect of the industrial manufacturing. Consequently, this paper proposes a theoretical framework as well as a mathematical model to price industrial data. For this purpose, three characteristics of the data were considered, i.e. 1) quality; 2) entropy and 3) value. Besides, the role of data marketplace’s players was analyzed. In order to validate the economic equation, a case study was carried out by a Spanish manufacturer.
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