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Data Economy Dimensions

Author

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  • Peter Géczy

Abstract

Data is the ‘new oil’. Data has been widely regarded as the main innovation driver in information technology and several other segments of developed economies. Inherent value of data has a significant transformational power. Realization of value of data drives the rapidly expanding data-driven technology sector. Data is among the most prized assets of not only data-oriented technology companies but also governments and individuals. Data plays a central role in a growing spectrum of economic activities. Data economy has manifested its effects along a number of dimensions―particularly, trade, labor, education and government. However, to realize the full potential of data and manage its transformational power, it is necessary to understand the value of data, its influential spectrum, and enablers facilitating social and economic benefits. Despite the growing importance of data economy, there is a considerable lack of studies encompassing the associated range data oriented economic activities and their analysis. This work examines the dimensions of contemporary data economy and presents a pertinent encompassing perspective

Suggested Citation

  • Peter Géczy, 2015. "Data Economy Dimensions," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 9(4), pages 77-89.
    • Handle: RePEc:ibf:gjbres:v:9:y:2015:i:4:p:77-89
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    More about this item

    Keywords

    Data Economy; Trade; Labor; Education; Government; Data-Driven Innovation; Data Science; Data Engineering; Data Products; Data Protection; Privacy; Big Data; Data Management Journal: Global Journal of Business Research;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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