How Government Can Promote Open Data & Unleash $3 Trillion

Screenshot 2014-04-07 14.13.05 (2)By opening data, the government can unleash over $3 trillion in economic value.

According to this McKinsey article “the sources of value from open data identified in the report include new or increased revenue, savings, and economic surplus in seven domains: consumer finance, consumer products, education, electricity, health care, oil and gas, and transportation” for decision-making, new offerings and for accountability. This, of course, means that big data strategies need to be in place.