The Open Data management a source of growth in the U.S. economy

By November 04, 2013
Open Data and economic growth

A report by the McKinsey Global Institute identifies the economic potential of a widespread sharing of liquid data.

According to the report from the consulting firm McKinsey & Co, a better management of the data brewed by seven industrial sectors could create more than $ 3 trillion worldwide. This optimization also involves the adoption of best practices and procedures by both the public and private sectors. The study goes beyond the simple description of a trend already well stated and recognized , as evidenced by the website launched by the Obama Gouvernement  and encourages the establishment of data not only open but also immediately readable and usable.

Economies of scale

The study focuses on productivity gains released by an Open Data paradigm in seven strategic areas: education , transportation, consumer goods , electricity, oil and gas , health and finally personal finance . The Open Data defined as the free exchange of data would correct many inaccuracies inherent to several sectors, in particular at the production and planning stages . For example, in the transportation sector, nearly $ 100 billion could be saved by the data from the maintenance of infrastructure, fleet management and consumer behavior. A more accurate estimate of the door-to-door travel time could help municipalities better adjust the flow of transport and save nearly 35 annual hours of delay. Furthermore status updates of vehicles could result in fuel savings and maintenance representing nearly $ 370 billion .

A renforced protection of the use of data

To go beyond the sharing of raw data and make it immediately legible and therefore exploitable , the report recommends a series of recommendations targeting companies and their investment efforts as well as  the government's authority on privacy and intellectual property. These polymorphic actors form a critical matrix for the establishment of a standard accelerating frictionless sharing. Governments have a critical role to play in the provision of data processed role already offers over 90,000 data sets. However, this data sharing should go hand in hand with the protection of certain personal details , as noted by Tim O'Reilly member of Code for America " regulators must enforce certain barriers to prevent for instante the insurers from using these data to discriminate some customers . " According to Michael Chui one of the authors of this report, the focus should not be the limitation of data collection but rather the use that is made of them.

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