Value of data research reports 2022
Three research reports about the value of data use to organisations, the economy and society.
Documents
Details
Taken together, the reports give us a framework for understanding how data use impacts the economy and society. This will inform future policy developments on increasing access to data across the economy.
Data Use Externalities report
This research looks into the effects data use has on the economy and the rest of society (data use ‘externalities’) beyond the effects on the organisation that uses it. This research was conducted by Belmana.
Valuing Data Assets
The study outlines three methods for valuing data assets, and proposes a framework for valuing changes to these data assets. The study shows that the value of a data asset depends on how it is used and who uses it, rather than (only) the characteristics of the data itself. This research was conducted by Frontier Economics.
Cost Considerations of Data Sharing
The study developed two products:
- a framework for understanding the types of direct costs incurred by data use — these costs include tangible costs such as legal and infrastructure costs, as well as intangible costs like competitive advantage
- a first quantification of these different types of costs, and an estimation of the spend of different types of data use, including data collection, data analysis and data sharing — the study indicates which factors affected the cost of data sharing
A summary of the literature review and resulting taxonomy accompanies this report. This research was conducted by London Economics.