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Big Data Market Optimization Pricing Model Based on Data Quality

Author

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  • Jian Yang
  • Chongchong Zhao
  • Chunxiao Xing

Abstract

In recent years, data has become a special kind of information commodity and promoted the development of information commodity economy through distribution. With the development of big data, the data market emerged and provided convenience for data transactions. However, the issues of optimal pricing and data quality allocation in the big data market have not been fully studied yet. In this paper, we proposed a big data market pricing model based on data quality. We first analyzed the dimensional indicators that affect data quality, and a linear evaluation model was established. Then, from the perspective of data science, we analyzed the impact of quality level on big data analysis (i.e., machine learning algorithms) and defined the utility function of data quality. The experimental results in real data sets have shown the applicability of the proposed quality utility function. In addition, we formulated the profit maximization problem and gave theoretical analysis. Finally, the data market can maximize profits through the proposed model illustrated with numerical examples.

Suggested Citation

  • Jian Yang & Chongchong Zhao & Chunxiao Xing, 2019. "Big Data Market Optimization Pricing Model Based on Data Quality," Complexity, Hindawi, vol. 2019, pages 1-10, April.
    • Handle: RePEc:hin:complx:5964068
    DOI: 10.1155/2019/5964068
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    References listed on IDEAS

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    1. Xueqi (David) Wei & Barrie R. Nault, 2014. "Monopoly Versioning of Information Goods When Consumers Have Group Tastes," Production and Operations Management, Production and Operations Management Society, vol. 23(6), pages 1067-1081, June.
    2. Sridhar Balasubramanian & Shantanu Bhattacharya & Vish V. Krishnan, 2015. "Pricing Information Goods: A Strategic Analysis of the Selling and Pay-per-Use Mechanisms," Marketing Science, INFORMS, vol. 34(2), pages 218-234, March.
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    Cited by:

    1. Simon Scheider & Florian Lauf & Simon Geller & Frederik Möller & Boris Otto, 2023. "Exploring design elements of personal data markets," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-16, December.

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