The Value of Open Data
Channel: New America
Date: 18/12/2013

The Value of Open Data
In collaboration with McKinsey & Company

As the value of using big data and analytics is becoming increasingly recognized and embraced throughout the global economy, a complementary trend is taking hold. Governments and other institutions are making their data (e.g. weather, disease monitoring, terrain maps, or traffic patterns) open and available to the private sector and entrepreneurs, which raises productivity and extends the powers of big data to make possible entirely new applications, such as the smartphone app that tells commuters when the next bus will arrive.

Open data has generated a great deal of excitement around the globe because of its potential to empower citizens, change how government works, and improve delivery of public services. What is not yet fully appreciated is how much economic value open data can generate. New McKinsey research shows that it could help unlock more than $3 trillion in value every year in seven domains of the global economy. The report focuses on quantifying the potential value of using open data in education, transportation, consumer products, electricity, oil and gas, health care, and consumer finance. For each of these "domains," the research describes the ways open data can create economic value and also explore the barriers to adoption and enablers that are required for capturing value with open data. 

Introductory Remarks

Nick Sinai
U.S. Deputy Chief Technology Officer, Office of Science and Technology Policy, White House
@NickSinai

Open data: Unlocking Innovation and Performance with Liquid Information

Michael Chui
Principal, McKinsey Global Institute
@mchui

Diana Farrell
Global Leader, McKinsey & Company
@Farrell_Diana

The Value of Open Data

Aman Bhandari
U.S. Director, Health IT, Data and Innovation Strategy, Merck
@GHideas

Michael Flowers
Director of Analytics, Office of Policy and Strategic Planning, New York City

Svenja Maarit Gudell
Director of Economic Research, Zillow

Sascha Meinrath
Vice President, New America Foundation; Director, Open Technology Institute
@saschameinrath 

Moderator: 
Alex Howard
Fellow, Tow Center for Digital Journalism, Columbia University
Fellow, Networked Transparency Policy Project, Ash Center at Harvard University
@digiphile 

http://newamerica.net/events/2013/the_value_of_open_data