The report examines the opportunities and challenges of measuring the size, economic significance, and impact of the data economy in Finland. The cost-based approach is identified as particularly suitable, given the availability of necessary registry data in Finland. The method has the advantage of being consistent with national accounting principles, and it has already been used experimentally in many countries to estimate the amount of data investment and assets.
However, a more precise assessment of the data economy’s size and impact would require adjustments to accounting practices and increased investments in data collection, such as tracking employees’ time spent on data-driven work. International collaboration on developing comparable metrics and data collection is essential to monitor the development of Finland’s data economy in an international context.
The report also evaluates data economy readiness in Finland and comparable countries using the Databarometer developed in the project and maps public procurement and R&D investments that support data economy growth. The analysis leverages the Hilma system and open purchase invoice data to assess the impact of public procurement. Additionally, the report addresses international best practices in data economy development and their applicability to supporting sustainable value creation in Finland.
Publications of the Government’s analysis, assessment and research activities 2024:44.
