Federated data management and data product builds and sharing has little to do with traditional data product management.
In contrast, modern ie cloud based data product management extends beyond traditional data management practices by emphasizing the development, delivery, and optimization of data-driven products and services.
Although data products can be initially designed to serve internal needs, some of them might become business assets that are commercialized (value realization happens externally). This idea of external commercialisation is usually a long term benefit and should not be the focus of your short term efforts. You have data products internally to share data, reuse data sets, decrease costs and in many use cases, enhance revenue producing products which already exist (eg an external report) and which depend on clean data and easy access to that data.
Streamlining processes for both internal and external data products involves optimizing the entire lifecycle of data product development, delivery, and maintenance to improve efficiency, effectiveness, and agility. Ideally, you should have one process model that enables you with minimal effort expose the internal data product to external commercialization at any moment needed. Treat every data product as if it would be necessary to make it public if business so dictates.
A firm must be able to enable reuse of metadata. A Data Product Blueprint is the sketch for both internal and external value realization. All of the data products have Data Contract (technical focus).
Depending on the business goals and opportunities:
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