First Report on Policy Conclusions: How the Power of Data Can Drive the EU Economy

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Today, 24 April 2018, the Lisbon Council and International Data Corporation (IDC) publish the First Report on Policy Conclusions: How the Power of Data Can Drive the EU Economy. As part of an ongoing, multi-year investigation into the evolving dynamics of European Union data markets, the study offers a thorough update on the value of the data economy for the European Union and presents the innovative European Data Market Monitoring Tool, which has been revised and extended to cover the years 2016-2017 with forecasts until 2025. The report analyses the role of policies in shaping the scenarios, highlighting the potential impact of the Digital Single Market Strategy. It explores also alternative scenarios of the social role of data, in terms of the power to control and access data. While digitization is everywhere, adoption is uneven across companies, sectors, and economies. The report analyses more in-depth the profile of data-driven companies, who are the data users measured by our indicators, and the central role of data in digital transformation.