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Enter the Data Economy

Enter the Data Economy – EU Policies for a Thriving Data Ecosystem

Data is rapidly becoming the lifeblood of the global economy. It represents a key new type of economic asset. Those that know how to use it have a decisive competitive advantage in this interconnected world, through raising performance, offering more user-centric products and services, fostering innovation – often leaving decades-old competitors behind.

The data revolution is already underway and gaining speed. It profoundly changes how value is created, with a relentless focus on user-centricity. At the same time, the very nature of innovation is changing, with data now a decisive factor in the success or failure not only of businesses, but also of the economies that underpin them. Going forward, Europe needs to extend the regulatory and legal certainty afforded to personal data via the GDPR to the fast-growing area of non-personal data. Above all, a comprehensive policy blueprint is needed on how Europe can accelerate its performance in the global data economy while finding its particular niche at the high-end of value creation.

 

Discover the full report published by the European Commission by clicking here.