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What’s the value of open data?
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Why is open data important? It has significant potential to empower citizens, change how government works and improve the delivery of services.
The World Economic Forum (WEF) defines open data as free to access, use and share: “It’s non-personal and can be used to identify and predict large-scale trends and behaviours. This is as opposed to closed data that is restricted to internal use by an organisation.”
For many communities, open data has already given rise to many entrepreneurial businesses. It has also helped established companies in more ways than one, including defining products and services for consumers, and improving the overall efficiency and effectiveness of operations.
According to McKinsey, open data will unlock significant economic value too, with their research suggesting that seven key industries alone could generate more than US$3 trillion a year.
But for the true potential of open data to be realised, governments have a central role to play not only as a source of open data but as a regulator. We all know governments vast amounts and types of data as they deliver public services.
Australia’s Regional Open Data Census measures the openness of key data provided by Australia’s state and territory governments. It shows that out of 72 datasets, only 22 are open, meaning only 30% of this key data is transparent for the public.
We know that by opening up more datasets we can stimulate innovation by businesses, start-ups, universities and academia, as well as improve the efficiency of governments.
The WEF sum it up well: “the availability of open data creates opportunities for all kinds of organisations, government agencies and not-for-profits to come up with new ways of addressing society’s problems.”
New combinations of data have the ability to create new knowledge and insights, which can lead to whole new fields of application. That is the true value of open data.
Want to learn more? Check out our Open Data Strategy!
Our Open Data Strategy is also available as part of the Local Government Package, designed to help councils drive into the Digital Age.
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