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Update _pricing.md
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kyyberi committed Aug 26, 2024
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billingDuration: year

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**Standardized data pricing plans are crucial** for transparency, scalability, and customer trust. They ensure that customers can easily understand and compare costs, fostering trust and reducing disputes. For providers, standardized pricing streamlines operations, supports scalability, and simplifies market comparison, allowing for effective competitive positioning. Additionally, it aids in better financial planning and forecasting for both the provider and the customer, ensuring predictable revenue and informed decision-making. Overall, standardized pricing is essential for the sustainable growth and success of data products.
Pricing is the process whereby a business sets the price at which it will sell its products and services. Pricing **OBJECT** consists of mandatory and optional attributes. This element contains pricing plans related data to be used for example in displaying the items in a marketplace. If needed the standard metadata is converted to marketplace internal format. We encourage all data product owners to enforce usage of this standard.
Pricing is the process whereby a business sets the price at which it will sell its products and services. Pricing **OBJECT** contains pricing plans related metadata to be used for example in displaying the items in a marketplace. If needed the standard metadata is converted to marketplace internal format. We encourage all data product owners to enforce usage of this standard to foster global interoperability.
The Pricing object is general in nature and should be enough for common (80%) use cases. Note that you can make extensions to the standard with "x-" mechanism in order to fulfill any industry specific needs. The ["Specification extensions"](#specification-extensions) section provides details on how to use this feature.
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