Best Data Exchange Platforms
Data Exchange platforms allow businesses to transmit and procure or enrich data without its inherent meaning being altered during acquisition. Data is transmitted in such a way to be easily consumed by a receiving system(s), many times normalizing the data outright. These exchanges often feature data-as-a-service capabilities as a key component, where industry, market, source, or subject matter data can be acquired en masse to fuel data-driven insights and market intelligence. While product, marketing, and business strategy teams can utilize the data acquired through these solutions for planning and driving initiatives, the data can also be used to fuel machine learning training and development. A variety of data solutions can work in conjunction with data exchanges, including data management platforms (DMPs), data mapping software (when moving acquired data into storage), and data visualization software for converting data to readable dashboards and graphics.
To qualify for inclusion in the Data Exchange category, a product must:
- Transmit data without altering the data’s inherent meaning
- Normalize transmitted data for easier consumption by the receiving system
- Facilitate market, industry, source, or subject matter data-as-a-service acquisition
- Integrate with other data-oriented solutions
Best Data Exchange Platforms At A Glance
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- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Improve the customer experience with digital analytics for your website or mobile app — for free. Google Analytics gives companies rich insights about their websites, their audiences and their digit
- Owner
- Marketing Manager
- Marketing and Advertising
- Information Technology and Services
- 60% Small-Business
- 29% Mid-Market
32,705,077 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Analytics Hub Analytics Hub is a data exchange that allows you to efficiently and securely exchange data assets across organizations to address challenges of data reliability and cost. Curate a librar
- 32% Small-Business
- 21% Mid-Market
32,705,077 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Crunchbase is a predictive solution that provides intelligence on private companies, powered by the unique combination of live private company data, AI, and market activity from over 80 million users.
- Account Executive
- Founder
- Computer Software
- Information Technology and Services
- 56% Small-Business
- 30% Mid-Market
152,628 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Snowflake Data Exchange securely shares private data across your organization and leverage public data sets from the Snowflake Data Marketplace to enrich your analytics with even deeper insights.
- Information Technology and Services
- 64% Enterprise
- 18% Mid-Market
53 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Dromo delivers innovative data importing solutions designed specifically to simplify and optimize the process of onboarding customer spreadsheet data. Our dedicated team, made up of product, data, and
- Computer Software
- 53% Small-Business
- 42% Mid-Market
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
With Weld, you can sync and analyze your data with AI in minutes. Get data from all your favorite sources, including Facebook Ads, Google Ads, Shopify, Hubspot, Salesforce, Klaviyo, Excel, and Goog
- CEO
- Retail
- Computer Software
- 59% Small-Business
- 40% Mid-Market
97 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Migrating data is one of the biggest barriers to onboarding customers quickly and successfully. This process is often complex and error-prone, causing delays and frustration that can negatively impact
- Computer Software
- 93% Small-Business
- 7% Mid-Market
1,221 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Explorium offers a first-of-its-kind data science platform powered by automatic data discovery and feature engineering. By automatically connecting to thousands of external data sources (premium, part
- Financial Services
- 69% Mid-Market
- 23% Small-Business
1,388 Twitter followers
- Overview
- User Satisfaction
- Seller Details
AWS Data Exchange makes it easy to find, subscribe to, and use third-party data in the cloud.
- Information Technology and Services
- 38% Mid-Market
- 31% Enterprise
2,228,524 Twitter followers
- Overview
- User Satisfaction
- Seller Details
Adeptia Connect, Adeptia's self-service software, uses AI-driven data mapping and a no-code templates to enable non-technical business users to onboard customer, partner, and supplier data 80 percent
- Information Technology and Services
- 53% Enterprise
- 42% Mid-Market
1,441 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
PartnerLinQ is a cloud-native supply chain visibility platform that delivers resilience through simplifying visibility and connectivity. PartnerLinQ’s Platform with Native Applications adds business c
- Information Technology and Services
- Automotive
- 41% Mid-Market
- 34% Small-Business
46 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
nuvo offers AI-powered, secure and scalable data onboarding solutions that empower you and your customers to map, validate, and clean data effortlessly – regardless of the input format. Don't let comp
- Computer Software
- 71% Small-Business
- 17% Mid-Market
16 Twitter followers
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
OneSchema automates CSV imports, embedded directly in your product. Product and engineering teams use OneSchema to save months of dev time building CSV import. With over 50+ prebuilt validations and r
- Computer Software
- Information Technology and Services
- 50% Small-Business
- 44% Mid-Market
215 Twitter followers
- Overview
- User Satisfaction
- Seller Details
We make data commerce easy. If you're looking for data, Datarade Marketplace allows you to get free samples, compare providers, and buy products across 600+ data categories. If you're a DaaS company,
- 67% Small-Business
- 19% Enterprise
- Overview
- Pros and Cons
- User Satisfaction
- Seller Details
Narrative is a data commerce platform that makes it fast and easy to buy, sell, and share data.
- 60% Small-Business
- 40% Mid-Market
387 Twitter followers
Learn More About Data Exchange Platforms
What are Data Exchange Platforms?
Data acquirers and providers need a secure environment to share or transfer data, and data exchange platforms does just that. Data exchange platforms help with secure data transfer from source to destination. The tool also helps share datasets in a way where the meaning attached to the data does not change. Data exchange platforms enable the transfer of large files and datasets between organizations, trading partners, or departments of the same organization. The most common data formats are CSV, XML, and GML.
Data exchange software help keep records of the data being shared, thus helping meet the organization's compliance requirements. These tools can also diverge and analyze data in one place. Some data exchange platforms today also provide real-time data transfer.
What are the Common Features of Data Exchange Platforms?
Data exchange platforms come with various features. The following are some core features that can help users obtain valuable data and further derive business insights:
Data normalization: This feature helps generate clean data. Generating clean data is done by organizing the data to appear similar across all records without changing its meaning while transferring. Normalization of data helps in eliminating any redundancy and ensures logical data storage and further exchange of data.
Data-as-a-service: Data-as-a-service is an essential part of the data ecosystem. Data-as-a-service helps deliver data storage and processing or analytics services over a network. The data is made available to relevant stakeholders in a cost-effective manner. Organizations with large amounts of data benefit from this feature.
Data management: One of the essential features of data exchange software is data management, which is collecting, organizing, storing, and protecting data. The management process begins with data acquisition. Acquiring data in the control center helps continue with the subsequent processes. Data conversion is the next step after acquisition. The raw data is converted into information for further processing. Following this, the well-processed data meets its objectives via data analysis.
Dynamic data exchange: This feature is a messaging protocol that allows data transfer. It enables applications to share data that use different formats. Applications are updated as soon as new data is available. Remote data exchange platforms use dynamic data exchange, and they provide notifications to restart systems after configuration. This feature can be used once or multiple times to exchange data.
Data exchange automation: Modern data exchange platforms have an automation feature to reduce the time taken for various data lifecycle tasks. Automation saves time in processing data.
What are the Benefits of Data Exchange Platforms?
Data exchange platforms provide access to data points from multiple sources. This proves beneficial to many data trading partners in various ways:
Collaborate across teams: Given the secured sharing of datasets, various departments, and teams can collaborate seamlessly by breaking data silos. Data exchange tools also help organizations collaborate with external stakeholders like customers, suppliers, and partners.
Gain accurate insights: Dynamic data exchange helps organizations gain better insights and clarity while planning business strategies. Using data from this software can help businesses create in-depth profiles of their customers.
Implement data governance: Data exchange platforms help meet the organization's compliance requirements. These platforms help keep records of shared information and investigate in case of discrepancies. These tools help with data management across the organization, thus keeping the data ecosystem in good health.
Simplify buying and selling data: Data exchange systems have made sharing datasets between different organizations feasible. They optimize the data-sharing process by making it easier to purchase data from the suppliers at once. These tools act as software-as-a-service (SaaS) platforms, bringing together data suppliers and providers on a single platform.
Who Uses Data Exchange Platforms?
Data exchange is essential for agencies, publishers, and project managers. High-quality data can help various stakeholders in many different ways.
Marketing agencies: Data exchange platforms help marketing agencies learn more about their target customers by gaining a view of all their target audiences across every device. This software allows agencies to understand what customers like and want. This can help in planning effective marketing campaigns.
Publishers: Publishers use data exchange solutions to optimize their campaigns. These platforms provide high-quality data. By obtaining better insights into on-site visitors, publishers can get a better click-through rate (CTR). Data exchange platforms help them create the right content and target the right audience on the right platform.
Project managers: Using data exchange tools, project managers can collaborate with their colleagues better and thus work well on project management. Required teams getting access to this data can ensure better results. There could be requirements for project-specific data integration, which this software can help with. Gaining access to data sources on data exchange platforms, project managers can create insightful data visualizations using visualization tools.
IT support managers: IT support managers look after the software users and their training needs. They are involved in studying and analyzing the software, which will further help them train the team.
Challenges with Data Exchange Platforms
Data exchange platforms deal with massive datasets while sharing. Data could also come in varied formats such as XML, GML, and CSV. Any of the following challenges can arise when using the software:
Need for a strong compliance strategy: It isn’t easy to synchronize data management systems without a solid compliance policy and strategy. It could lose track of what data is being shared and with whom. It is essential to have a firm data management framework to enable operations and data engineering teams to apply effective data access controls.
Lack of an optimal number of buyers and providers: It is challenging for data exchange platforms to gain traction. Data suppliers hesitate to list their business where there is a lack of consumers and vice versa. Major cloud platforms that can run data exchange software help the systems gain data buyers and suppliers. Once acquired, sending an email notification for subscription request updates is essential to help retain the suppliers and the users.
Need for data integration: Data exchange tools focus on sharing data between suppliers and users or consumers. Often, the data consumers have to integrate this data into their internal data management systems. Data exchange software must validate clean and high-quality data in a readable format to aid this data integration. Data validation is an important step in bringing consistency to the data.
How to Buy Data Exchange Platforms
Requirements Gathering (RFI/RFP) for Data Exchange Platforms
Data exchange tools come with various features that cater to diverse business needs. It is essential to understand the exact requirements before looking for the right software. If the business needs only data transfer, data exchange software with secured data exchange can help. However, a data marketplace is a good option when an organization seeks to obtain data from many suppliers at once. RFP/RFIs can help the buyer understand the pricing plans, agreement guidelines, and product features.
Compare Data Exchange Products
Create a long list
The buying procedure begins with creating a long list of all the potential vendors of the software. The organization can evaluate based on the price, features, customer services, and support. The company can analyze the list further by considerating the product’s position in the competitive market.
Create a short list
After a thorough analysis of the requirements and which vendors fit the bill, the second step is to shortlist the data exchange software vendors that match the organization’s needs, thus creating a short list.
Conduct demos
Demos are an ideal way of understanding the product's functions and features. Both the buyer and vendor can measure the degree of alignment between product performance expectations and reality. There must be an IT professional involved to understand the installation or configuration of the software. This is also where the organization can get product quotes from the vendor.
Selection of Data Exchange Platforms
Choose a selection team
A team that will converse with vendors can include a marketing manager who will be the business user of the data exchange solutions, along with an IT professional to handle discussions about installation and support. A technical professional like a product manager who can better understand the software and gauge user experience should also be part of the team.
Negotiation
The negotiation can take place depending on the price quoted by the vendor. The buyer can negotiate based on the organization's budget and the required features.
Final decision
The final decision can be based on the information collected and the agreed-upon terms and conditions between the vendor and the buyer.
