Video: The Economic Impact of Open Data

The Center for Data Innovation orginized a panel discussion highlighting new findings about where demand for open data is strongest and how government agencies can help promote continued data-driven growth in these sectors. At the event, the GovLab at New York University officially released the Open Data 500, the first comprehensive study of U.S. companies that use open government data as a key business resource.

Government agencies collect a vast amount of data that is valuable not only to the agency that collected it, but also to many other stakeholders in the public and private sector. By making their data freely available without restrictions, government agencies can enable the private sector to leverage public data’”including weather information, maps, legal filings, financial statements, health indicators, and education metrics’”to develop new products and services and create new economic value. Already, a wide variety of companies have created innovations that were born from government data that has been made available for reuse.