Internet economy

The Role of Data in Promoting Growth and Well-Being

 

 Short address for this page: http://oe.cd/bigdata 

Data forms a key pillar in 21st century sources of growth. The confluence of several trends, including the increasing migration of socio-economic activities to the Internet and the decline in the cost of data collection, storage and processing, are leading to the generation and use of huge volumes of data – commonly referred to as “big data”. These large data sets are becoming a core asset in the economy, fostering new industries, processes and products and creating significant competitive advantages. 

For instance:

Big data‌ 
  • In business, data exploitation promises to create value in a variety of operations, from the optimisation of value chains in global manufacturing and services more efficient use of labour and tailored customer relationships.
  • The adoption of ‘smart-grid’ technologies is generating large volumes of data on energy and resource consumption patterns that can be exploited to improve  energy and resource efficiency.
  • The public sector is also an important data user but also a key source of data. Greater access to and more effective use of public-sector information (PSI), as called for by the 2008 OECD Council Recommendation on PSI, can generate benefits across the economy.

Greater access and use of data creates a wide array of policy issues, such as privacy and consumer protection, open data access, skills and employment, and measurement to name a few.

 

Objectives

The OECD is undertaking extensive analysis on the role of data in promoting innovation, growth and well-being within its multi-disciplinary project on New Sources of Growth: Knowledge-Based Capital (KBC). The objectives of the project are:

  • Improve the evidence base on the role of data for promoting growth and well-being, and
  • Provide policy guidance on how to maximize the benefits of the data-driven economy, while mitigating the associated risks.

The project encompasses the following building blocks:

Big data slide

Reports

Events

Data-driven Innovation for Growth and Well-being: Interim synthesis report 
See also: Briefing note (October 2014)
  

Unleashing the Power of Big Data for Alzheimer's Disease and Dementia Research

Exploring Data-Driven Innovation as a New Source of Growth: Mapping the Policy Issues raised by "Big Data"

Open Government Data: Towards Empirical Analysis of Open Government Data Initiatives

Exploring the Economics of Personal Data: A Survey of Methodologies for Measuring Monetary Value

Building Blocks for Smart Networks

ICT Skills and Employment: New Competences and Jobs for a Greener and Smarter Economy

Machine-to-Machine Communications: Connecting Billions of Devices

The Evolving Privacy Landscape: 30 Years After the OECD Privacy Guidelines

OECD Global Forum on the Knowledge Economy 2014:
Data-driven Innovation for a Resilient Society  

Tokyo, 2-3 October 2014

Addressing Dementia Research and Care: Can Big Data Help?
Toronto, 15 September 2014

Conference on “Growth, Innovation and Competitiveness: Maximising the Benefits of Knowledge-Based Capital” 
13-14 February 2013, Paris

OECD Foresight Forum on “Harnessing Data as a New Source of Growth: Big Data Analytics and Policies”
22 October 2012, Paris

Workshop on Anticipating the Special Needs of the 21st Century Silver Economy: From Smart Technologies to Services Innovation
12-13 September 2012, Tokyo

OECD High-Level Meeting on E-Government: New ICT Solutions for Public Sector Agility
26-27 March 2012, Mexico City

OECD-NSF Workshop: Building a Smarter Health and Wellness Future
15-16 February 2011, Washington, DC

Conference on The Economics of Personal Data and Privacy: 30 Years after the OECD Privacy Guidelines 
1 December 2010, Paris

 

Further reading

 ProgBlog: Could Big Data provide alternative measures of poverty and welfare?

 

Contact

For any questions, please contact Mr. Christian Reimsbach-Kounatze (christian.reimsbach-kounatze[at]oecd.org).

 

Related Documents

 

Data-driven Innovation for Growth and Well-being: Interim Synthesis Report

 

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