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In view of the increasing interconnectedness of the global economy and the rapid advancement of information technology, data have emerged as a valuable and promising asset for international investment.1 It is becoming increasingly evident that an expanding number of companies on a global scale are resorting to data-driven decision-making as a means of optimizing their operations and fostering growth. From the generation of accurate market forecasts to the provision of personalized customer service, data can play an instrumental role in enabling companies to enhance their competitive advantage. Consequently, investors are beginning to consider companies and projects that possess a substantial quantity of high-quality data resources.2 Concurrently, the advent of technologies such as cloud computing, big data analytics, and artificial intelligence has facilitated the collection, storage, processing, and application of data, thereby further enhancing its investment value.3 The function of data within business operations has undergone a transformation, evolving from a mere by-product to an invaluable asset with the potential to generate direct economic value. Moreover, the acceleration of digital transformation across a range of industries has prompted enterprises to proactively seek external data resources with the objective of optimizing business processes and innovating business models. This has created a broad market space for data-driven investment and trading, which presents a promising opportunity for those looking to make strategic investments in this field.4 For instance, in the financial sector, risk assessment models based on big data can assist financial institutions in evaluating credit risks with greater precision, which in turn has prompted significant investments in the development of data collection and analysis platforms.
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Xinglong Yang (2024) studied this question.
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