A Survey on Data Pricing: From Economics to Data Science
A unified, interdisciplinary and comprehensive overview of the economics of data pricing is presented and the development and evolution of pricing models according to a series of fundamental principles are reviewed.
Abstract
Data are invaluable. How can we assess the value of data objectively,\nsystematically and quantitatively? Pricing data, or information goods in\ngeneral, has been studied and practiced in dispersed areas and principles, such\nas economics, marketing, electronic commerce, data management, data mining and\nmachine learning. In this article, we present a unified, interdisciplinary and\ncomprehensive overview of this important direction. We examine various\nmotivations behind data pricing, understand the economics of data pricing and\nreview the development and evolution of pricing models according to a series of\nfundamental principles. We discuss both digital products and data products. We\nalso consider a series of challenges and directions for future work.\n