A dynamic pricing model for civil aviation data based on the T-EPI framework

Civil aviation has expanded rapidly, accumulating much operational data, which becomes the foundation for improving its effectiveness, safety, and informed decisions. The valuation and pricing of such data are very hard to realize precisely due to the aviation data, which is dynamic and complex, even in dimensionality. Thereafter, this research proposes the adoption of a new dynamic aviation data valuation framework, which will encompass the integration of three important dimensions, viz., time information entropy, data privacy life cycle, and real-time data integrity. It considers operational utility and associated risks by modeling the evolution of data value over time. Temporal information entropy quantifies uncertainty that decreases while the data becomes more predictable. The data privacy lifecycle considers privacy risks throughout the life of the data, from collection to destruction, while real-time data integrity considers updates and transmission errors with regard to data reliability. The experimental results indicated a reduction in the MAE of 91.6% and MSE of 99.2%, as compared with static models and single-dimension ones, respectively. Framework T-EPI empowers more accurate and fair data pricing of aviation, adaptive, and also is well placed to generalize to other industries of datadriven decision making.