Internet economy - OECD - The Role of Data in Promoting Growth and Well-Bein

Internet economy - OECD - The Role of Data in Promoting Growth and Well-Being
Data forms a key pillar in 21st century sources of growth. The confluence of several trends, including the increasing migration of socio-economic activities to the Internet and the decline in the cost of data collection, storage and processing, are leading to the generation and use of huge volumes of data – commonly referred to as “big data”. These large data sets are becoming a core asset in the economy, fostering new industries, processes and products and creating significant competitive advantages.