A Data Product defines both data contents and business elements of real-world entities in a machine-readable format. Data product defines how to query harmonized data from the relevant data source to flow in Platform of Trust.
In Platform fo Trust, we aim to harmonize any type of data to develop new business opportunities or service implementations. We have taken the initiative to formulate Data Product Specification (DPS) to enhance data commoditization and monetization. open data movement.
The goal is to enable data rights holders to commercialize their data in order to accelerate the emerging data economy.
Data Product Specification (DPS) is a set of technical guidelines that would aid you to harmonize and commercialize the data you own to be used across business domains. Using this set of technical concepts and machine readable examples, you would be able to make data transactions simple, transparent and trustworthy between data publishers and consumers. The universal information model, or Platform of Trust Ontology, enables this harmonization and commercialization of Data.
Think about Open API Spec (OAS - based on the original “Swagger Specification”) and how it has brought tremendous movement in API design and development. We are in the era where data is being commoditized in trade and commerce to become an independent valuable asset and be available in marketplaces. Data Products contributes to the utilization and monetization of data. Similar to OAS, DPS would enable you to design-first your data products (e.g. streaming type, harmonization model, condition, etc.) before starting the connector (API layer) development and integration with the data source. This would ensure better Developer eXperience, reduce inter-team dependencies and enable faster go to market.
Platform of Trust DPS consists of Data Product Model, Data Product Structure and Payload Model.
Under Data Product Model is defined related metadata that can be associated with a Data Product. Considering the diverse nature of commercial terminologies associated with data products, DPM enables the ease of creating simple data products without restricting the opportunities of adding additional product-related information, e.g. product, price-plan, quality, condition, etc.
Data Product Structure demonstrates a sample Data Product in JSON format. Definitions of different entities associated with the data product, their properties, and possible values can be found in related sub-pages.
Payload is a collection of data points within a data product. This depends on the number of sensor devices and their type in an identity network.
What’s next?
The work continues towards version 0.2 and beyond. We are looking for interested partners to join specification development and form a working group around it. We are also evaluating a couple of candidates for an umbrella organization for the specification development. In the long run, we are looking for something similar to what OpenAPI spec has under Linux Foundation.