The Internet of Things is, by all estimations, growing at a staggering pace. Just ask my friend, David Knight, who has founded a company called Terbine to capitalize on the IoT data explosion. Knight’s big idea is that organizations are generating staggering amounts of data that they mostly just dip into and then, when they're done, just drop that data into the bit bucket when they could be monetizing it.
The Terbine platform will act as a broker mediating between those generating data and those wanting to consume it. The data is ranked and priced according to how “fresh” it is (if, for example, I’m trying to predict the price of gasoline next week knowing last month’s crude oil production isn’t as useful as knowing this week’s figures) and its quality (if the production data is accurate to the barrel it’s worth far more than if the accuracy is plus or minus 10 percent). Terbine’s platform provides a structured market where:
… rules and filtering engine gives Data Sellers control over where, when, how and by whom their data is retrieved, and supports ever-changing regulatory, payment and security factors affecting information sharing and usage around the globe. Data Buyers get access to information from a far larger number of sources than they’d likely care to manage themselves, and with it, an opportunity to correlate data in new ways.
Data marketplaces such as Terbine have huge potential. With Terbine the advantage is being able to practically link the IoT world to business processes and make it possible for those organizations with commercially useful data to monetize it in a systematic and organized way. Terbine is about to enter its pilot testing phase so you can now check out the platform’s front end and signup for a test account.
So, what data do you want or do you have to sell? Have you even thought about selling your data?