Open Data: A 21st Century Asset for Small and Medium Sized Enterprises

Open Data: A 21st Century Asset for Small and Medium Sized Enterprises

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Статус документа: 
Действующий
Дата принятия: 
01.01.2016
Редакция: 
01.01.2016
Ключевые слова: 
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Although we live in a data age, much information has until recently been privately held and access to it has been restricted. This is starting to change, however, with the rise of the open and shared data movement. Increasingly, it is clear that we are entering a new era of access, innovation, and transparency. Today, it is widely held that open and shared data has the power to fuel economic growth, job creation, and new business opportunities. The consulting firm McKinsey predicted the possible global value of open data to be over $3 trillion annually. A study commissioned by the Omidyar Network concluded that open data could increase the output of G20 countries by some $13 trillion over five years. But for all the excitement about the potential of open data, very little is known about how it actually works—the precise variables, parameters, and pathways through which it translates into growth and opportunities. The purpose of this paper is to better understand how open and shared data impacts the economy. Focusing on small and medium-sized enterprises (SMEs) and start-ups, we consider 354 case studies of companies currently using open data, so that we can better understand how open data can be used and how it can contribute to economic growth, new jobs, greater innovation, and other improvements in our social and economic lives. Grounding our analysis in empirical studies allows us to identify the most important issues confronting any SME considering an open data strategy. It provides lessons and principles that have proven, real-world applicability. Our analysis is structured around ten key questions. These questions encompass both the potential and challenges of open data. Among other issues, we consider: - Diferent sources and types of open data and how these diferences afect the economic potential of open data; - The relationship between open data in its “pure” form and other forms of open and shared data that ofen come with certain restrictions, but that nonetheless have the potential to foster economic growth and innovation; - Market segments, data products, and diferent models of value creation currently being explored by open data SMEs; - The importance (and difculty) of establishing metrics to capture the impact of open data; and - Some of the risks involved in using open data. From our discussion of these (and other) issues, we have arrived at ten principles for the efective use of open data. We examine these principles in the conclusion. They should be considered preliminary and, given the rapidly evolving nature of the feld, subject to change. Nonetheless, put together, they provide a road map or guide for SMEs considering an open data strategy