The utilisation of data offers opportunities for value creation and productivity growth in all sectors of the economy. New data-based companies and products, business models, value chains and public services appear, but very little is known about their economic effects. In addition, it is difficult to determine the value of data or define the data economy. Currently, there is no comprehensive picture of the size of the data economy, the added value it creates and its connection to economic growth.
This research project will develop a quantitative measurement framework for the data economy applicable to the Finland and possibly other countries. In addition, the research will build a Databarometer that compares the utilisation of data in Finland with a number of reference countries. As a result of efforts to quantify the data or digital economy, some approximate indicators suitable for a rough international comparison, such as the EU’s DESI index, have been developed. For a more accurate assessment of value creation and the impact of the data economy in different sectors and cross the entire domestic economy the project will develop quantitative or monetary indicators.
This research project will improve our understanding of how public procurement and R&D investments are accelerating the data economy in Finland, as well as international best practice and its applicability to Finland. Information is especially needed to support decision-making in assessing the effectiveness of public investment targeted at digitalisation and development of the data economy.
Etla is conducting the project in collaboration with the Finnish Information Society Development Centre (TIEKE) and Demos Helsinki.
