Valuation of Data through Use-Scenarios in Innovators' Marketplace on Data Jackets

In our view of the market of data, data should be sold at an agreed price, opened for free, or shared under agreed conditions after negotiation in order to increase, rather than decrease, data providers' business opportunities, as a result, decision makers and data analysts can be provided with data needed. In addition, knowledge and skills related to data analysis should be shared among data users in order to make better use of provided data and animate the market. For such a market, we recognize the necessity to design or redesign the market of data where data providers and users understand the value of data through active communication such as discussion on the scenario of data use and negotiation for deal conditions. At the same time, we also recognize that such communication are likely to happen in an ideal market environment. Thus we introduce Innovators' Marketplace on Data Jackets (IMDJ) to create scenarios of data use as well as share data analysis skills. Innovators' Marketplace (IM) is a creativity support process on the metaphor of a marketplace, which features not only design for aiding innovative thinking and communication but also tools for data visualization. It has been applied to cases of decision making in real business. Data Jacket is a meta-data format we introduce to update IM to IMDJ, where scenarios of data use are created and proper data and analysis methods are specified without exposing the full contents of data sets.