Data Economy Actors
Data Use Cases
Without doubt, the increasing relevance of data in everyday business, administration and research affects the business models and strategic patterns of most market participants.
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There is a lack of transparency with respect to data collection and usage
Individuals take less care of leaving data behind than organisations, which, for instance, pay much more attention to licence agreements. The use of innovative devices and services often causes a dilemma for data economy actors due to privacy and confidentiality issues. Terms & Conditions of websites rarely use a standardised form to provide information in an understandable way. The use of easy language could make it easier for individuals to assess the benefits and risks of sharing data.
There is a negative/indifferent attitude in society towards data reuse
There is low awareness for the potential societal value of data reuse. The general societal attitude towards data reuse tends to be negative or indifferent, which probably is the result of negative examples in the media. Unawareness and data exploitation based on unread but agreed licence agreements might prolong the negative attitude. These concerns are significant in the health and the financial sector. Making open data personally relevant might support the reuse of the data.
Despite the great demand for big data experts, there still is a shortage of skilled professionals
Skilled staff is needed to exploit the potential benefits that lie in data reuse. Analytical skills, industry knowledge and languages skills are essential. Data reuse can reinvigorate the job market in Europe by creating thousands of new technological and non-technological posts in the data science and the data analytics sector. Mathematicians, statisticians, business developers and philosophers could provide the data economy with wider and more accurate data analysis and exploitation methods.
There is a limited supplier landscape for data and technologies
It is not uncommon that data users needing specific data are reliant on a few data holders. The same holds for data economy actors with respect to data processors providing data-related services and tools. Moreover, many data holders and processors are not even based in Europe. Although quasi-monopolies are not uncommon, data economy actors typically avoid vendor lock-ins when possible.
Europe still has a long way ahead to become a leading data generator
The EU is still dependent on external sources in terms of data. To become a leading data generator, actions such as embracing data-driven innovation within the EU or adopting a new way of thinking regarding data exchange and data reuse, are required. In contrast to its competitors that went already through a big data revolution years ago, the EU is facing difficulties to adopt big data into the industries, given that individuals and oragnisations are more reluctant to share their data.
The EU is determined to increase the investment in this sector to improve technologies, architectures and education for data professionals.
Europe is a heterogeneous market
Despite all the serious efforts made by EU policy makers, a single European market still does not exist. There is an accumulation of many heterogeneous national markets. An organisation being active in one EU Member State cannot easily extend its activities to another Member State. This seems to be particularly true for the data market. There are national differences not only with respect to language but also, for instance, with respect to culture, education, infrastructure and legislation.