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Valuing Data: Where Are We and Where Do We Go Next?

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Listed:
  • Tim Sargent
  • Laura Denniston

Abstract

There is widespread agreement on the importance of data in advanced economies, but no consensus on exactly how to value the magnitude of this contribution. This paper looks at recent attempts to value both the stock and flow of data in the national accounts and attempts to assess the way forward. It separates three different categories of data-related assets — data itself, databases, and data science — and outlines key national accounting concepts for incorporating them as assets. Three recent studies by statistical agencies in Canada, the Netherlands, and the United States are examined, each using a cost-based methodology. While each study finds data is a significant asset (investment estimated at one to three percent of output), there are significant differences in results.

Suggested Citation

  • Tim Sargent & Laura Denniston, 2023. "Valuing Data: Where Are We and Where Do We Go Next?," CSLS Research Reports 2023-05, Centre for the Study of Living Standards.
    • Handle: RePEc:sls:resrep:2305
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