A Survey on Data Pricing: From Economics to Data Science


Data are invaluable. What are some objective, methodical, and quantitative ways that we can evaluate the significance of the data? Pricing data, or information goods in general, has been studied and practiced in a variety of fields and principles, including economics, marketing, electronic commerce, data management, Data Mining, and Machine Learning, to name just a few. In this article, we present a synergistic, interdisciplinary, and all-encompassing overview of this significant path forward. We investigate a variety of driving forces behind data pricing, gain an understanding of the economics of data pricing, and investigate the development and evolution of pricing models in accordance with a set of fundamental principles. Both digital products and data products are up for discussion here. In addition to this, we discuss a number of challenges as well as potential future lines of inquiry.

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