How much is UK business investing in big data?

How much is UK business investing in big data?
Document type
Discussion paper
Author(s)
Goodridge, Peter; Haskel, Jonathan
Publisher
Imperial College Business School
Date of publication
1 July 2015
Series
Discussion Paper 2015/05
Subject(s)
Trends: economic, social and technology trends affecting business
Collection
Business and management
Material type
Reports

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This paper presents an economic approach to measuring investment in Big Data. It presents a conceptual framework to understand and measure the production of transformed data and data-based knowledge. This framework is then used to understand how current official datasets and concepts used by Statistics Offices might already measure Big Data investment in GDP, or might miss it. The paper also sets out how unofficial data sources might be used to measure investment and estimate that in 2010, UK market sector investment in data-based assets was $5.7bn. Of that, the paper estimates that £4.3bn is already counted in official measurement of investment in software and databases, and that £1.4bn is previously unidentified investment.

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