Open Data for Economic Growth

Open Data for Economic Growth

Many governments are pursuing open data policies. One of the key policy drivers has been to use open data to drive economic growth and business innovation. This paper examines the evidence for the economic potential of open data and concludes that, despite a variation in published estimates and some methodological difficulties, the potential is very large indeed. It reviews the latest data about companies using open data, and highlights four companies which did not exist ten years ago, which are driven by open data, and which are each now valued at around $1 billion or more. It discusses the five archetypical types of businesses using open data, and cites concrete examples of each, and discusses the types of data which are proving most likely to lead to widespread business adoption and innovation. It suggests that governments should see themselves not only as a Supplier of open data but also as a leader, catalyst and user of it. Finally, it makes some recommendations for policies and actions which governments could take to maximize the economic growth possible from their data.

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Bibliographic Details
Main Author: World Bank
Language:English
en_US
Published: Washington, DC 2014-06-25
Subjects:ACCESS TO INFORMATION, ADVERTISING, ANNUAL REPORT, ARCHETYPES, AVAILABILITY OF DATA, BUSINESS ADOPTION, BUSINESS INNOVATION, BUSINESS MODEL, BUSINESS MODELS, BUSINESS TRANSACTIONS, BUSINESSES, BUYERS, CAPABILITY, CATALOGUE, CHANGE MANAGEMENT, CITIES, COMMERCE, COMMUNITIES, CONTENTS, COPYRIGHT, DATA ACCESS, DATA POLICIES, DATA SERVICES, DECISION MAKING, DECISION-MAKING, DELIVERY SERVICES, DISPLAY SCREENS, DOMAINS, ECONOMIC ACTIVITY, ELECTRICITY, END USERS, END-USER, END-USERS, ENGINEERS, GLOBAL POSITIONING SYSTEM, GPS, HARDWARE, ICT, IDEA, IDEAS, INFORMATION INFRASTRUCTURE, INFORMATION POLICIES, INFORMATION PROVISION, INFORMATION USE, INNOVATIONS, INNOVATIVE IDEA, INSIGHTS, INSTITUTION, LEADING, LICENSE, MARKET OPPORTUNITY, MARKETING, METADATA, NAVIGATION, NEW IDEAS, NEW PRODUCTS, NEW TECHNOLOGIES, ONE-STOP SHOP, OPEN SOURCE SOFTWARE, PDF, PORTALS, PRIVACY, PRIVATE SECTOR, PROCUREMENT, PRODUCTIVITY, PROPRIETARY KNOWLEDGE, PROTOTYPE, PUBLIC INSTITUTION, PUBLIC INSTITUTIONS, PUBLIC SECTOR INFORMATION, REGISTRY, RESEARCHERS, RESULT, RESULTS, SEARCH, SERVICE PROVIDERS, SOFTWARE DEVELOPERS, SOFTWARE DEVELOPMENT, STRUCTURES, SYSTEMS INTEGRATION, THIRD-PARTY PROVIDERS, USER, USERS, USES, VALUE CHAIN, WEB, WEBSITE,
Online Access:http://documents.worldbank.org/curated/en/2014/06/19880825/open-data-economic-growth
https://hdl.handle.net/10986/19997
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Summary:Many governments are pursuing open data policies. One of the key policy drivers has been to use open data to drive economic growth and business innovation. This paper examines the evidence for the economic potential of open data and concludes that, despite a variation in published estimates and some methodological difficulties, the potential is very large indeed. It reviews the latest data about companies using open data, and highlights four companies which did not exist ten years ago, which are driven by open data, and which are each now valued at around $1 billion or more. It discusses the five archetypical types of businesses using open data, and cites concrete examples of each, and discusses the types of data which are proving most likely to lead to widespread business adoption and innovation. It suggests that governments should see themselves not only as a Supplier of open data but also as a leader, catalyst and user of it. Finally, it makes some recommendations for policies and actions which governments could take to maximize the economic growth possible from their data.

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