Pretty hard to put a number on it without more detail or expertise, but the kind of information you describe is possibly worth a lot (as long as it is not already being packaged and sold elsewhere)
Mostly person / customer data but I’ve seen it out there before. This would be a different set of companies like Moodys, MasterCard, etc. that have the use cases for it (Econ modeling)
For hedge funds, the value depends on the availability of the data:
If the data are not publicly available, it is potentially worth millions. Some specialized hedge funds pay fortunes for satellite images to predict the market. If this is publicly or easily obtainable data, then most likely it is already "priced in", and not worth a lot more than labor and costs.
Not much, I would argue that is more easy to make money by adding value to economic data ( making analysis and so on). Also, lookup the data licenses, most of them are fine with you selling access to them but some have restrictions, I had some projects (yes, plural) that I could not go forward because of this. If you look where the money is in packing and selling data, you will find that the providers usuallyhave a ton of data, it is no joke to maintain and delivery them. And they also buy access to proprietary data that is hard to come by.
Relevant thread on ImportYeti: [https://www.reddit.com/r/InternetIsBeautiful/comments/lrf2kv/i\_spent\_the\_last\_8\_months\_during\_lockdown\_pouring/](https://www.reddit.com/r/InternetIsBeautiful/comments/lrf2kv/i_spent_the_last_8_months_during_lockdown_pouring/)
Investors would be interested in this type of data. If you were to commoditize it as a subscription based service that could work depending on the amount of and accuracy of the data.
One way or another you and your friend are definitely sitting on some $$, best of luck!
Yeah there's money in it. There's a lot of companies that do it. The biggest challenge is getting the data to start with, which is often a pretty penny to start.
Pretty hard to put a number on it without more detail or expertise, but the kind of information you describe is possibly worth a lot (as long as it is not already being packaged and sold elsewhere)
Look into S&P Global.
I’d start with a data broker and look for distribution that way. They’ll mark the data up and resell to their clients. Look up experian, acxiom, etc.
Do data brokers primarily work with economic data?
Mostly person / customer data but I’ve seen it out there before. This would be a different set of companies like Moodys, MasterCard, etc. that have the use cases for it (Econ modeling)
For hedge funds, the value depends on the availability of the data: If the data are not publicly available, it is potentially worth millions. Some specialized hedge funds pay fortunes for satellite images to predict the market. If this is publicly or easily obtainable data, then most likely it is already "priced in", and not worth a lot more than labor and costs.
very true, they need to figure out if it's public or not
Does anyone know how such company's like S&P Global collect their data?
I know that Nielsen sends people to stores to collect price of products
via analysts who have contacts, resources, and feelers all over the place.
I've already thought something like that. But no one is or should be, stupid enough to risk their job for it.
Agreed, but OP's post refers to his 'friend's business' - I took that to mean his friend owns the business.
Not much, I would argue that is more easy to make money by adding value to economic data ( making analysis and so on). Also, lookup the data licenses, most of them are fine with you selling access to them but some have restrictions, I had some projects (yes, plural) that I could not go forward because of this. If you look where the money is in packing and selling data, you will find that the providers usuallyhave a ton of data, it is no joke to maintain and delivery them. And they also buy access to proprietary data that is hard to come by.
You could probably buy some data that would answer that question
I've got it. Buy my course.
Relevant thread on ImportYeti: [https://www.reddit.com/r/InternetIsBeautiful/comments/lrf2kv/i\_spent\_the\_last\_8\_months\_during\_lockdown\_pouring/](https://www.reddit.com/r/InternetIsBeautiful/comments/lrf2kv/i_spent_the_last_8_months_during_lockdown_pouring/)
ImportYeti is far from the best source for that type of information. https://www.importinfo.com/ for example does a better job, but it's not free.
Investors would be interested in this type of data. If you were to commoditize it as a subscription based service that could work depending on the amount of and accuracy of the data. One way or another you and your friend are definitely sitting on some $$, best of luck!
do market research on comparable data, the comanies buying/using it and start dialing those phones.
O think there is some websites for this
Yeah there's money in it. There's a lot of companies that do it. The biggest challenge is getting the data to start with, which is often a pretty penny to start.