Launch a custom data exchange with Data Shops
by Zeke Sexauer, on July 21, 2021
Data Shops is an end-to-end solution for standing up a data business, with tools that make it fast and easy to package, market, sell, and deliver data via a custom-branded e-commerce storefront
As data becomes increasingly integral to decision-making and growth for every business, many companies are realizing that their data can be an additional source of revenue.
But building and managing a data business requires significant time and resources. You need data engineers to collect data from silos across the organization, clean it, and package it into data products. You need developers to build the connections to store and deliver the data. And you need a sales and marketing team to go out and find customers for your data products. Finally, you need to make all of these processes scalable and repeatable.
Until now, these high barriers to entry have limited data monetization to companies with resources to build out and maintain monetization revenue streams, and generally only for deals large enough to justify the operational cost. Others have been forced to resort to data broker middlemen, who subject buyers and sellers to opaque pricing and uncertain quality.
We want to break down these barriers to entry and make data monetization accessible to all businesses and all types of data. That's why we built Data Shops, a suite of apps that enables businesses to package, sell, and deliver any type of data—from healthcare to financial services to marketing—via a customized e-commerce storefront.
Data monetization for all
Data Shops enables anyone to start monetizing any type of data quickly and without using precious resources and technical expertise. What Shopify did for online retail, we are doing for data selling—even with no coding or design experience, a company can have a custom shop selling any type of data up and running in less than a day.
Data Shops has made it easy for us to spin up an e-commerce store that showcases AdImpact's advertising intelligence data. The turnkey, end-to-end data monetization experience opens up an entirely new channel for us to deliver data to customers.”
Chief Business Officer, AdImpact
Accelerate time to market
Facilitating data transactions is sort of our thing, and we’ve gotten pretty good at it. Building out a data business internally takes months, even years, and requires continuous maintenance and upkeep. With Data Shops, you can deploy a fully-realized data business in just a few hours.
No code needed
Data Shops is a no-code data monetization solution. That means instead of recruiting a team of data engineers and developers, you can have almost anyone in your organization set up your entire data business from beginning to end.
Without writing a single line of code, Data Shops enables you to ingest your data, store it in its own data lake, slice and dice it into new data products, build an e-commerce site to sell it on, and deliver it to customers automatically.
Any type of data, any way
Data Shops is designed to work for any type of data. Yes, we mean any. Agricultural data, industrial data, financial data, healthcare data, legal data—you can sell it all easily and seamlessly through Data Shops.
The best part is that you can work with your data on your own terms. There’s no need to transform your data to fit someone else's schema. You can set up, store, and create products from your data exactly as it's stored in your database.
Your data, your terms
Selling data doesn’t have to mean losing control of it. Set access rules and licensing terms to specify who can use your data and how they can use it.
Data Shops provides us with the ability to build an entirely new revenue stream, while allowing us to retain full control of our licensing terms and who gets access to our data shop.”
You can buy practically anything online with just a few clicks of a button, so why not data too? With Data Shops, your customers can browse and purchase your data products via a familiar self-service e-commerce experience. Data is delivered automatically within hours. (Take that, Amazon Prime!) Your customers get what they need fast, and you don’t have to lift a finger. Now that’s a win-win.
How it works
Data Shops is built as a collection of apps that businesses can use to manage their monetization strategy from start to finish. As an end-to-end monetization solution, the apps’ intuitive tools and workflows make it easy to transform and load data into the platform, define and price products for sale, create an e-commerce storefront, collect payments from purchases, and fulfill orders.
Ingest your data
To begin, you’ll need to ingest your data for use on the platform. In the Dataset Manager app, just upload your data as a CSV, JSON, or Parquet file, and the platform will help validate, clean, and store it. Review the metadata, add additional information, click “Activate,” and your dataset is ready to use! Transformation and loading into the platform is fully automated. (Again, no engineering required.)
Create data products and set access rules
The next step is to create discrete data products, known as “data streams,” from your dataset. In the Seller Studio app, you’ll select the datasets you created in Dataset Manager, then choose the fields you’d like to include. Then, use filters to slice and dice your datasets up into different data products.
Once you’ve set your filters, you can set the price you’re willing to sell the data for and your licensing terms. Then just provide a helpful description of the product so customers know what they’re buying, review the details one last time, click “Activate Data Stream,” and you’ve created a data product.
Merchandise your data products
Once you’ve created your data products, you’ll need a place to showcase them. The Shop Builder app makes it easy to create a branded e-commerce site with a custom domain, copy, colors, and imagery. You can have your site up and running in minutes, with no design or web development experience needed.
Let us handle fulfillment
Once your shop is up and running, you can leave delivery up to us. After a customer makes a purchase, we’ll deliver the data in their preferred format within an hour.
Start selling data today!
Data Shops is an end-to-end data monetization solution. Businesses can manage their monetization strategy from start to finish, using a set of intuitive tools and workflows to evaluate their data, load it into the platform, define and price products for sale, create an e-commerce storefront, and collect payouts from customer purchases without any assistance.
At Narrative, we’re committed to making data accessible to all by eliminating the inefficiencies in data transactions that slow you down, cost you money, and expose you to undue risk. Data Shops is the next step towards this goal.
To get started with Data Shops, schedule some time with a member of our team.