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Nokia Data Marketplace

Secure data exchange and AI/ML orchestration with blockchain data marketplace

Video: How to monetize IoT data

What is a data marketplace?

 
The value of a data marketplace is to facilitate the data trading and exchange process as efficiently and securely as possible while removing obstacles that prevent buyers and sellers from performing their activities.

What is a blockchain data marketplace?

Nokia Data Marketplace is a proven, secure and scalable solution for business-to-business i.e. B2B data exchange and monetization, and driving development of B2B2X ecosystems. It is based on private permissioned blockchain to facilitate secure, trusted and automated exchange of digital assets in the form of data streams between data buyers and sellers.

Nokia Data Marketplace provides enterprises and communications service providers (CSPs) access to rich datasets as well as AI/ML orchestration capabilities. The solution supports multiple data sharing and trust models to cater to the requirements of different datasets and customer needs.

Data marketplace platform through SaaS business model

 
Through a Software-as-a-Service (SaaS) business model, our Nokia Data Marketplace platform offers enhanced automation, efficiency and scalability to CSPs and enterprises in a variety of industry verticals, including telco, government, energy, healthcare, transportation and logistics. With our SaaS model, customers also benefit from faster time-to-value, improved financial performance and greater business agility.

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data marketplace

Nokia Data Marketplace

Infographic – B2B data exchange marketplace for digital transformation and data monetization

data marketplace infographic

How to securely exchange data?

Secure

Blockchain security

Nokia Data Marketplace uses private permissioned blockchain to enable trusted contracts and secure transaction mechanisms

Operate

Multiple data sharing and trust archetypes

The underlying data marketplace infrastructure offers a range of data science processing archetypes for the member organization to select from

Shield

Data privacy and security

Data is not stored in the Nokia Data Marketplace, the solution just controls the secure data exchange between buyer and seller

Transform

Data format agnostic

Data formats are not standardized to provide flexibility for data providers and data consumers to perform data transformations as per specific needs or algorithms

Features and benefits of Nokia Data Marketplace

Monetize

Trusted data monetization

Easily monetize data with a digital catalogue, trusted smart contracts and transactional mechanisms

Shield

Secure data exchange

Easily exchange data among units within a large enterprise or an ecosystem

Analyse

Federated AI/ML orchestration

Easily execute algorithms on data stored in multiple locations without actual data transfer, using federated learning

What is federated learning?

Through federated learning, AI models can be trained locally on distributed data sets without the need to move sensitive data. This ensures privacy preservation of the data, the model itself and the output of the model. The AI/ML orchestration capabilities of the Nokia Data Marketplace can be used for collaborative development of highly accurate machine learning models.

Webinar: Making Health 3.0 at the edge a reality

Equideum Exchange in partnership with Nokia to empower individuals
to monetize their health data

Use cases for IoT data monetization

Environmental data marketplace

Increase yield, minimize herbicides and optimize the use of fertilizers depending on actual (non-uniform) soil conditions by algorithm-driven control of farm equipment.

Industry verticals: agriculture, telco, tower companies and smart cities

Sports data marketplace
 

Improve competitiveness of tournaments and enhance gaming experience based on data from players’ wearables.

Industry verticals: sports

Healthcare data marketplace

Improve person-centric healthcare based on data from wearables and connected devices.

Industry verticals: healthcare and wellness

Use cases for secure data exchange

Supply chain automation

Optimize logistics network performance and reduce delays by automating settlements between the stakeholders.

Industry verticals: transportation, maritime, logistics and manufacturing

Smart living

Optimize resources, improve experience and reduce delays by automating settlements between the stakeholders.

Industry verticals: energy, utilities, smart buildings and smart cities

Use cases for federated learning, AI orchestration or ML orchestration

Preventive maintenance

Using AI or ML orchestration to increase equipment availability by optimizing maintenance planning, spare parts stock levels and employee resources.

Industry verticals: airlines, telco and manufacturing

 

Federated intelligence

Improve intelligence exchange between government agencies for faster actions with federated learning.

Industry verticals: government

Patterns prediction

Improve urban traffic management strategies to avoid congestion and improve experience.

Industry verticals: smart cities, telco and government

 

AI-based health recommendations

AI or ML orchestration can enable clinical decision support systems to tailor treatment to individuals or patient groups.

Industry verticals: healthcare

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How to enable digital transformation with data marketplace

The majority of industries today use data to drive nearly all of their strategic decisions. Data driven decision making is critical for organizations as they transform their businesses for competitive advantage in the digital era.

Nokia Data Marketplace can enable digital transformations by helping industries to tackle data exchange-related challenges such as: 

  • Data remaining in ‘silos’ within organizations – meaning within business groups or units who are reluctant to share it with each other
  • Interoperability issues between systems impeding free real-time data exchange
  • Government regulations around data privacy and data movement restricting sharing
  • When external sources are used, there are often concerns around data validity and integrity

Examples of digital transformation with data marketplace

Enterprises and consortiums can use real-time data exchange capabilities of the marketplace to drive transparency and trust in their business ecosystems while also enabling innovative new business models. For example, the oil and gas industry can use real-time data exchange and smart contract capabilities to improve global supply chain transparency and enable instantaneous transaction settlements. Smart grid providers can use it as a platform to facilitate the digital power trading economy enabling the monetization of microgrid power generation for participants, while reducing overall power generation, transmission and distribution costs. Automotive and industrial equipment manufacturers can use the data exchange and AI/ML orchestration capabilities to create highly accurate predictive maintenance models for their products.

How to monetize data

Almost all large organizations want to monetize their company generated data, but there is a need for both data consumers and data providers to have a mechanism which enables secure and trusted data and digital asset exchanges. In addition, there needs to be a simple, assured data monetization mechanism that guarantees providers compensation for their digital data assets.

Nokia Data Marketplace enables data providers and consumers to share and transact data and other digital assets like algorithms privately and securely, establishing vital trust between market participants while ensuring compliance with government. The Nokia Data Marketplace is key to unlocking value and establishing the data-as-a-service economy.

Examples of data monetization with data marketplace

CSPs, large enterprises and consortiums can fulfil the role of a data marketplace provider, generating new revenue streams from enterprise customers by facilitating trusted permissioned data exchange transactions, consequently helping them move up the enterprise digital transformation value chain. The real-time data exchange, smart contracts and AI/ML orchestration capabilities of Nokia Data Marketplace can be used as a foundational technology by industries to create many new and innovative applications and business models, catalyzing their data driven digital transformation initiatives.

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