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Data-Driven Innovation: Understanding and Enabling the Economic and Social Value of Data

Whether you have been hearing about “business intelligence,” “data analytics,” or the infamous term “big data,” there is one reason for all of the excitement about data right now and why you should care. It is this: Data-Driven Innovation (DDI) presents tremendous economic and social value capable of transforming the way we work, communicate, learn and live our lives.

While data analytics have been around for quite some time, what’s new is the increasing capacity for enterprises and governments to analyze and use this information— from a variety of voluminous sources of structured and unstructured data, real-time and static — to innovate and improve the outcomes of everyday life.

A range of previously unimaginable applications of DDI are already being produced—or will be in the near future. These innovations are making people’s lives better and safer and more prosperous, while also improving energy efficiency and saving money. Of course, there are also important questions about privacy and data stewardship, which must be answered for the full benefit of DDI to be realized.

SIIA Data-Driven Innovation Resources

Software & Information Industry Association. “The U.S. Software Industry: An Engine for Economic Growth and Employment.” September 2014.

Executive Summary
Report


This groundbreaking report examines the various ways in which the software industry affects economic growth, trade, jobs, and more. While confirming the central role of software in increasing business productivity and investment, the study finds that software and the technology it enables are playing an increasingly vital role in creating American jobs and expanding exports.

Software & Information Industry Association. "Data-Driven Innovation, A Guide for Policymakers: Understanding and Enabling the Economic and Social Value of Data." May, 2013.

This SIIA white paper provides an in-depth look at the benefits and challenges of data-driven innovation along with a detailed public policy roadmap. SIIA crafted the white paper to provide guidance to help policymakers understand and enable the economic and social value of data-driven innovation.

Software & Information Industry Association. "Guide to Cloud Computing for Policymakers." July, 2011.

There are several key attributes of cloud computing that have enabled it to become a revolutionary step in the evolution of IT and an enabler of data-driven innovation. These critical components are the shift to a remote computing model that is massive and scalable. The notion of large-scale computing infrastructure, platforms and software, all able to be provisioned quickly as a service makes cloud computing a key driver of DDI.

This paper is a guide to cloud computing for policymakers. It explains that cloud computing is not a new, nor singular technology, but rather an evolving mechanism for IT consumption and delivery, provisioning a wide variety of computing services from remote locations.

Case Studies of Data-Driven Innovation

As a part of Data-Driven Innovation, A Guide for Policymakers: Understanding and Enabling the Economic and Social Value of Data, SIIA analyzed a number of case studies. You can find summaries of these studies here:

Other Resources

Briody, Dan. “Big Data: Harnessing a Game-Changing Asset.” The Economist. SAS, Sept. 2011. Web

Carter, Philip. “Big Data Analytics: Future Architectures, Skills and Roadmaps for the CIO.” SAS: The Power to Know. SAS, Sept. 2011.

Cavoukian, Ann. “Privacy by Design in Law, Policy and Practice.” Privacy by Design. Information and Privacy Commissioner of Ontario, Aug. 2011. Web.

Cavoukian, Ann. “Privacy by Design: The 7 Foundational Principles.” Privacy By Design. Information and Privacy Commissioner of Ontario, Jan. 2011. Web.

Cavoukian, Ann, and Jeff Jonas. “Privacy by Design in the Age of Big Data.” Privacy by Design. Information and Privacy Commissioner of Ontario, June 2012. Web.

Centre for Economics and Business Research Ltd. “Data Equity: Unlocking the Value of Big Data.” SAS: The Power to Know. SAS, Apr. 2012. Web.

DiCerbo, Kristen. “From Digital Desert to Digital Ocean.” Pearson R&I. Pearson, Inc., 26 Nov. 2012. Web. 25 Mar. 2013.

Franks, Bill. “Taming The Big Data Tidal Wave: Finding Opportunities in Huge Data Streams with Advanced Analytics” John Wiley and Sons: Wiley and SAS Business Series, 2012. Print.

Godwin, Larry. “Memphis PD: Keeping Ahead of Criminals by Finding the “hot Spots”.” IBM.com. IBM Corporation, Feb. 2011. Web.

GovLoop. “Unlocking the Power of Government Analytics.” GovLoop, February, 2013. Web.

IBM. “Hospital for Sick Children.” IBM.com. IBM, 30 Nov. 2010. Web. 25 Mar. 2013.

Intuit. “New in QuickBooks Online: See how your Income and Expenses stack up against businesses like yours.” Intuit.com. Intuit, Feb. 2010. Web.

Lyman, Peter, and Hal R. Varian. “How Much Information?” School of Information Management and Systems at the University of California at Berkeley. Regents of the University of California, 27 Oct. 2003. Web.

Manyika, James. “Big Data: The next Frontier for Innovation, Competition, and Productivity.” McKinsey Global Institute. McKinsey & Company, May 2011. Web. 01 Mar. 2013.

Schwartz, Paul M. “Data Protection Law and the Ethical Use of Analytics.” Hunton Files. The Centre for Information Policy Leadership, 2010. Web.

Sweden, Eric. “Is Big Data a Big Deal for State Governments?” NASCIO. NASCIO, Aug. 2012. Web.

SIIA Digital Discourse» Data-Driven Innovation

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