Data is becoming incredibly commonplace in society such that normal individuals create data on a daily basis. For example, streaming videos on Netflix, buying on Amazon, performing internet searches, crossing toll bridges, etc., the examples are endless. In the past, when we think of sellers of data we think of only the big players, such as Nielsen in the TV space, Facebook and Google to name a few. However, now there are two types of data sales opportunities, retail to consumers and enterprise (companies). The new player on the block in terms of data sales is the concept of retail data sales to consumers more specifically sports and sports betting data. People are fanatics related to their sports teams and individuals crave knowledge so they can stay up to date on the latest trades, injury reports, league changes, etc. One of the fastest growing areas in sports today is sports betting. The numbers are staggering. In all sports, approximately $1 trillion is bet on a yearly basis and 47% originates from the Asia-Pacific rim. The largest area of sports betting is tied to soccer where there are 208 leagues around the world. In fact, during the last World Cup Match, 3.3 billion people watched at least some part of the tournament. Approximately 38 million Americans 15% of the US adult population bet on NFL games in 2019. The shear magnitude of these numbers is amazing.
Until rather recently, data was presented in tables, graphs and charts, relatively few individuals understood or knew how to interpret the data sets. Mathematicians, data scientist, data analysts, individuals specializing in quantum analytics, individuals focusing on machine learning and artificial intelligence and just plain smart people were located in university computer labs, IT companies and home basements, in essence isolated from interacting and selling their data sets to the masses. These brilliant individuals with their powerful computers and incredible skills have been able to develop complex formulas, equations and algorithms to predict outcomes of sports games and in game events. On the other hand, the average Joe who bets on games, doesn’t have the wherewithal or time to do in-depth augmented analytics of teams and players prior to making a bet. Most watch ESPN, go on the team’s local web site, perform a few internet searches, this is the extent of their research in preparation to bet on an upcoming game. The problem is, there is a huge disconnect between the people that have the critical data to improve the betting odd and the masses that so desperately want it to improve their odds of winning. How do we overcome this dilemma? The answer lies with the Acquire X Data Exchange. The Acquire X Data Exchange is a platform where sellers of data can come and sell these incredible data sets to the masses and as we can see from the above statistics, the numbers are immense. How does the exchange work? Sellers come to the platform and download their data sets into the Acquire Box, their data sets are then stored in an S3 bucket on AWS (Amazon Web Services, the cloud). The model is an auction Bid/Ask model very similar to that of e-bay. It is user friendly, simple, streamlined and very intuitive. A mathematical algorithm on the exchange analyzes the data set to determine its suggested retail sale price based on quality and the overall size, this is called the “Acquire X Suggested Retail Price”. This sets the floor to begin the bidding for the data set. The seller has the option to stay with the “Acquire X Suggested Retail Price” or they can set the price higher at the “Buy Now Price”. The price range can be anywhere from $10- $25,000. The value that the market places on the data set via the bid prices or the “Buy Now Price” will ultimately determine the final sale price of the data set. Why don’t these individuals with the high powered data sets just sell them on their own web sites and bypass the middleman? Good question, the answer lies with convenience. Setting up a data trading platform, instituting a third party payer system to collect payments in multiple currencies, ensuring smooth downloads of the data and providing the needed customer service is no small feat. Most of the individuals that create the outstanding mathematical algorithms have no interest in dealing with this. Now, there is a win-win situation for all parties. The average Joe bettor/sports fan has access to the latest and most technologically advanced data sets and algorithms on the planet. The data geniuses now have a platform in which to generate revenue for all the brilliance and hard work that they have done to create these amazing data sets. The fantastic thing about the platform is that unlike most commodities which can only be sold one time, these data sets can be sold to an unlimited number of buyers. Essentially selling them over and over again, because data is non-consumable, reusable and re-sellable. This can become a recurrent income stream for the data sellers. How do we prevent the buyers from reselling the data sets on their own. The data exchange has a policy that no data set can be resold by anyone but the original seller unless that data set has been materially changed such that it is a completely new data set.
We have touched on sports and sports betting but the Acquire X Data exchange welcomes all sectors of data including: finance, healthcare, retail, political and election, travel, transportation, energy, weather, and demographic to name a few. Acquire X Data Exchange can handle all types of data sets including fixed static, event based and continuous streaming data. We welcome both individual and company data.
Please visit our web site at https://xchange.acqrx.com/dataXchange to learn more about the amazing platform that the Acquire X Data Exchange has to offer.