DataPrice: An Interactive System for Pricing Datasets in Data Marketplaces

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Abstract

With the flourishing of data-driven applications, data marketplaces, which can dramatically facilitate data utilization, have emerged recently. However, determining the appropriate price for datasets presents a significant challenge due to the intangible nature of data. DataPrice alleviates the challenge by providing an interactive system based on a pricing model trained on real datasets collected from commercial data marketplaces. The pricing model can estimate an appropriate price according to the dataset description as a reference for both data sellers and data buyers. By leveraging Shapley values to evaluate the contribution of each attribute in metadata on the estimated price, DataPrice offers an explanation of the pricing process in a text form to enhance user trust.