A future built on data: data strategies, competitive advantage and trust
|A future built on data: data strategies, competitive advantage and trust||1.11 MB|
In the twenty-first century, data became the subject of national strategy. This paper examines these visions and strategies to better understand what policy-makers hope to achieve. Data is different from other inputs: it is plentiful, easy to use and can be utilised and shared by many different people without being used up. Moreover, data can be simultaneously a commercial asset and a public good. Various types of data can be analysed to create new products and services or to mitigate complex 'wicked' problems that transcend generations and nations (a public good function). However, an economy built on data analysis also brings problems — firms and governments can manipulate or misuse personal data, and in so doing undermine human autonomy and human rights. Given the complicated nature of data and its various types (for example, personal, proprietary, public, and so on), a growing number of governments have decided to outline how they see data’s role in the economy and polity. While it is too early to evaluate the effectiveness of these strategies, policy-makers increasingly recognise that if they want to build their country’s future on data, they must also focus on trust.