A New Source of Revenue for Data Scientists: Selling Data
What kind of data is salable? How can data scientists independently make money by selling data that is automatically generated: raw data, research data (presented as customized reports), or predictions. In short, using an automated data generation / gathering or prediction system, working from home with no boss and no employee, and possibly no direct interactions with clients. An alternate career path that many of us would enjoy!
There are a number of companies making money by selling cured (or even raw) data:
Web traffic statistics to allow advertisers to compare publishers to buy the most efficient traffic, or to help pricing a web site, and for competitive intelligence in general. Compete.com, Alexa.com and Quancast.com are three examples. They also provide demographics and keyword data for the millions of websites that they track.
Salary data and jobs trends, for thousands of occupations. Companies such as Payscale.com, Glassdoor.com and Indeed.com gather salary data from millions of visitors and job postings. Such job reports can also be used for economic forecasting or stock trading models.
Keyword lists, with number of impressions, clicks and average cost-per-click, as well as related keywords, to help advertisers purchase more and better keywords. Google offers this service via an API. It is not free.
Black lists and white lists of IP addresses or email addresses used in fraud, Botnet activity or forum spam. An example of company selling this type of data is ProjectHoneyPot.org, with data based on consumer reports an other sources.HT: naked capitalism
Home values (real and estimated) for all houses in US, see Zillow.com.
Pricing for all standard medical procedures, for each hospital (real and estimated). This is actually a good idea for a big data start-up.
Stock market data, consumer reviews (Yelp.com), lists of thousands of job titles for data scientists (we are working on this), and so on
Your predictions (we sold stock market trading signals in the past, available via an API, and the service was not free).
Selling scores, such as click scores or any other scores. FICO was one of the first companies to do so.
Do you have other ideas, as well as ideas to inexpensively collect massive amounts of data to produce and sell scores or predictions, or just simply to sell the data that you gathered?
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Source code for our Big Data keyword correlation API
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