IT services company Infosys is setting up a data marketplace where enterprises can harness their captive information and monetise it by connecting with companies looking for such insights.

Data marketplaces are platforms that connect providers and consumers of data sets and data streams, ensuring high quality, consistency and security. The data suppliers authorise the marketplace to license information on their behalf following defined terms and conditions. Consumers can play a dual role by providing data back to the marketplace.

Some of the common types of data offered through this marketplace include business intelligence, advertising, demographics, research and market data. Data types can be mixed and structured in a variety of ways.

“We are launching a new offering called data marketplace. We are doing this one in small bits and pieces as we see big potential and relevant for our digital native enterprise, this will be a new launch under the same umbrella of data do more, which was largely focussed on the internal data, this will help us conceal the second party data or third-party data,” Satish HC, Executive Vice-President, Data & Analytics — Infosys, told BusinessLine .

The new offering will be a part of the company’s Data & Analytics division but it is being built as a new unit, which will have its own set of management.

“We are setting aside a dedicated leadership team in my organisation – I would set it up like a dedicated component just like an analytics team and then there is a technology and services team and there is a team which looks after the start-up and partner ecosystem, this is going to be as one such independent entity but part of the same data ecosystem,” Satish said.

Two components

The data marketplace will have two components to it — data and platforms. For the data part, Infosys will work with data providers such as media companies and technology companies such as Google and Microsoft, and create solutions to problems that haven’t been solved yet.

For the platform part, Infosys will work with enterprises to pull all the relevant data from across the organisation and look at how they can monetise it. Infosys will also connect them with potential clients and help package the information in a way that can be consumed by individual companies.

“There are enterprises looking at monetising data they already have. They often struggle with how to monetise it. That’s where Infosys will help them monetise it and then connect them to potential customers on the platform,” Satish said.

Pact with Microsoft

One such partnership will be with Microsoft where the Bengaluru-based firm will help Microsoft create solutions for small and medium businesses using Microsoft Azure.

“Microsoft is going big on small and medium business, so if we create solutions that are not very heavy to build, we can actually help save some of the solutions on Microsoft Azure platforms, where their offerings go beyond, technology, software and cloud. It will also be solutions for small of medium-size retailer for example,” Satish said.

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