Data Valuation and Pricing in Internet of Things: Survey and Vision
Xinyi Shi, Haihan Duan · 2024
In the digital age, data has become an invaluable asset for decision-making across various industries. Accurate data valuation is essential for businesses to effectively leverage their data assets, optimize strategies, and enhance operational efficiencies. This paper discusses the complex challenges inherent in data valuation methods, focusing on issues of data provenance and the lack of standardized valuation metrics. Moreover, the Internet of Things (IoT) further complicates this landscape by generating vast volumes of real-time data, which requires robust evaluation frameworks. Blockchain technology, with its decen-tralized and tamper-resistant characteristics, offers promising solutions by ensuring data integrity and traceability. Additionally, smart contracts enable automated and reliable execution of data transactions, reinforcing trust in the data exchange process. Tech-nically, the integration of wireless sensing technology and edge computing facilitates real-time data collection and processing, improving the accuracy and timeliness of data valuation, and machine learning (ML) techniques further enhance these efforts by uncovering patterns and relationships within large datasets. This study explores how these advanced technologies can address the limitations of existing data valuation methods, paving the way for a more transparent, secure, and efficient data marketplace.