The utilization 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 are generated, but very little is known about their contribution to the economy. In addition, it is difficult to determine the value of data and the data economy. There is currently no comprehensive picture of the size of the data economy, the added value it creates and its connection to economic growth.
This research project develops a quantitative measurement framework for the data economy applicable to the Finnish context and possibly other countries. In addition, the project builds a Databarometer that compares the utilization of data in Finland and the reference countries. As a result of the efforts to quantify the data or digital economy, some relatively rough indicators suitable for international comparison, such as the EU’s DESI index, have been developed. A more accurate assessment of the value creation and impacts of the data economy in different sectors and at the level of the entire economy requires the development of quantitative or monetary indicators, which this project responds to.
This research project further enhances our understanding of public procurement and R&D investments accelerating the data economy in Finland, as well as the international best practises and their applicability to Finland. Information is especially needed to support decision-making in assessing the effectiveness of public investments targeted at digitization and the development of the data economy.
Etla implements the project in collaboration with TIEKE and Demos Helsinki.
