Secure Information Market: A Model to Support Information Sharing, Data Fusion, Privacy, and Decisions

There are instances where multiple organizations hold data that when considered individually are inconclusive, but collectively are useful to solve complex problems. Yet, frequently there is a hesitation for organizations to share data due to strategic, legal, and policy concerns. To address this hesitation, an electronic market for secure information sharing is described, in which data are contributed to the market by members, and made available from the market to members or preapproved information buyers. In this Secure Information Market (SIM), shared data are secure, and available in granular or aggregate form based on specific requirements of the information providers and consumers. The model is designed to protect member organizations and their shared data, while maximizing member value and incentives to share. The Secure Information Market model is presented, and then its applicability is demonstrated using a variety of examples.