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Data is becoming a valuable commodity, with the era of data commoditization making it an independently tradable asset. Open data plays a crucial role in this transition, focusing on data sharing and access, driven by government mandates and policies from various countries. Although monetization of data has gained significant attention, the markets for data economy are still developing. Currently, we are in a learning phase, figuring out how to effectively utilize and monetize data, which necessitates the creation of data products. By integrating APIs with data, organizations can offer data as a service, thus enhancing the utility and accessibility of data in commercial contexts.
