Why isn’t leveraging external data for analytics more common, despite study after study showing that organizations that do consistently achieve better financial performance?
Historically, the biggest challenge wasn’t a lack of data, but the overwhelming variety of external data providers, each with its own pricing models and delivery methods. While cloud providers and data brokers have introduced marketplaces to simplify access and integrate third-party data more seamlessly, the mere availability of data hasn’t solved the core issue.
Progress has remained frustratingly slow. Why? Because the real challenge lies not in accessing the data but in aligning it with your organization’s unique strategy, industry challenges, and specific use cases. Data Mercatus sees this through your lens, ensuring that outcomes drive the external data strategy, not just the availability of data itself.
With the rise of generative AI and Large Language Models (LLMs), the need for high-quality, relevant data aligned with use cases is more critical than ever. AI-driven projects demand comprehensive data to deliver actionable insights, but without a clear, use-case-driven data strategy, the potential of these initiatives remains untapped.
Data Mercatus cuts through the complexity by focusing on your strategic goals first, guiding you to the external data that best supports your objectives, ensuring that your data strategy is as impactful as it is informed.
Data Mercatus uses cutting-edge generative AI powered by advanced Large Language Models (LLMs)
Rather than simply processing vast amounts of marketplace data, these models are tailored to help you identify the most relevant external data based on your specific use cases and strategic goals. By synthesizing information from multiple data sources, Data Mercatus delivers a comprehensive and unbiased view that focuses on the outcomes you’re trying to achieve, rather than overwhelming you with endless options.
Instead of manually comparing data providers—a time-consuming and complex task—our LLM-powered platform streamlines the process, guiding you toward the data providers that best supports your objectives. Through an intuitive, guided, and conversational interface, Data Mercatus helps you quickly uncover high value use cases, ensuring that the external data strategy aligns with your unique needs, without prescribing rigid steps or limiting your decisions.
Learn more about what makes Data Mercatus a distinctive solution here and start kicking the tires by trying it out here.
Big Market, Even Bigger Opportunity
The global market for data marketplaces is growing rapidly as external data becomes essential in shaping competitive analytics strategies. Valued at approximately $968 million in 2022, the market is expected to reach $5.7 billion by 2030, with a projected compound annual growth rate (CAGR) of 25.0% from 2023 to 2030. Source: Grand View Research
Despite this strong growth trajectory, a substantial opportunity remains untapped. A recent MIT Sloan survey found that 92% of data analytics professionals feel their organizations could be doing more to integrate external data sources into their decision-making processes.
Below are just some of the data providers Data Mercatus recognizes in its initial release:
- AlternativeData.org
- AWS Data Exchange
- Azure Data Marketplace
- CoreLogic
- Datarade
- Enigma
- Google Cloud Marketplace
- Kaggle Datasets
- Quandl (Nasdaq)
- LSEG Data & Analytics
- Snowflake Marketplace
- World Bank Open Data
Start your external data journey today with Data Mercatus, where an intelligent AI assistant helps you navigate the complexity of modern data marketplaces.