A data exchange is a platform or system that allows different organizations or individuals to share, trade, buy, or sell data. It serves as a marketplace where data providers can offer their datasets for purchase and organizations or consumers who need data can acquire it for various purposes. The goal of a data exchange is to make it easier and faster for organizations to acquire the data they need.
Data providers and consumers are obviously essential to a data exchange, put there are technologies that back the data exchange that make it operate smoothly. There must be a catalog that contains information about available datasets, pricing, and access connections. There must be pricing models and licensing agreements in place, which set guidelines about how the acquired data can be used. Finally, there must be security measures that ensure that the data is kept private, safe, and secure.