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Elsevier Inc.
DOI: 10.1016/b978-0-12-374840-9.00016-4


Publisher Summary This chapter considers all the aspects of the business of data. Except process data, the entities that create data and/or vendors own substantially all the data used in the trading markets. The creation, collection, distribution, and use of data within the trading markets constitute a separate collateral business. The data business entails all the tasks of collecting and moving data from the place where it is created to the place where it is used and all the subsequent tasks required to subsidize those tasks. The chapter examines each of these facets of data business. Data-business tasks involve creating, aggregating, normalizing, distributing, and using commercially available data. The major groups performing the Data-business tasks include data owner (or sometimes content owner), data vendor, network provider, and user. Data ownership involves contractual relationships among the data creator, any vendor, and the user. The data business process flow describes the steps required to provide new services, accommodate service changes, and manage reporting and the way invoicing occurs. A final factor in the business of data is to understand the relationships created by data distribution. Each data owner has a limited number of types of entities to which it distributes its information directly. These direct recipients, however, frequently redistribute the data to other types of entities. Understanding these distribution alternatives is critical to understanding how the information can be used and therefore having realistic policies for usage.

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