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Launch of Open Data Marketplace

Data Republic has announced the launch of the Open Data Marketplace, a world-first governed marketplace for organisations to list, exchange and collaborate on data exchange projects in a secure environment to boost social and commercial productivity outcomes.

The marketplace features a rich library of exclusive proprietary data from major service providers and brands, as well as open government datasets. Data can be discovered and accessed via ‘Data Listings’ which provide summaries of dataset attributes as well as the permitted use or application of the datasets listed on the platform.

Paul McCarney, co-founder and CEO of Data Republic, said the Open Data Marketplace would help solve the challenges organisations face when trying to negotiate access to proprietary data. He assured the public that the platform is “best practice and is governed by robust structural, technical and legal frameworks”.

The platform’s technology provides organisations with oversight and control around who can access its data as well as governing the permitted application or use of the data once exchanged. According to the company, this means that organisations can confidently exchange and analyse data in a secure and privacy compliant environment, fuelling data-driven innovation and productivity in sectors where valuable data has traditionally been locked away in siloes or not analysed at all.

With Westpac and Qantas Loyalty confirmed as contributing anonymous, segment-level insights data on the Open Data Marketplace, McCarney emphasised that fostering the underlying industry of data exchange would unlock value in the Australian economy.

“Whether it’s personalising rewards for loyal customers, informing urban planning with up-to-date data, identifying fraudulent activity to lower premiums or just ensuring that a local retailer has enough umbrellas on a rainy day – the applications of secure, privacy compliant data exchanges are endless,” he said.

The Open Data Exchange is currently available in Australia and will soon be launched in the United States.

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