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BIG DATA UTILIZATION STRATEGY 2023/2024 - 2027/2028
The data economy refers to the processes of producing, analysing, transmitting, disseminating, and consuming digital data in the modern digital era. Data’s non-depletable quality and widespread use might raise its value. Data acquisition (to supply fresh sources of data), data storage and warehousing, data modeling and analysis/mining, data visualization, data transfer, and data protection are all included in the data value chain. This value chain produces “digital intelligence,” which supports attempts at innovation and well-informed decision-making.
According to the United Nations Conference on Trade and Development (UNCTAD) 2019 study on the digital economy, value is created whenever data is turned into digital intelligence and monetized through commercial application. Because of this, productivity in the digital economy is primarily decided by how effectively digital intelligence is applied to various use cases. The “digital capital” of today is this digital intelligence. In the hyper-connected culture of today, many methods of data monetization are used to create the economic worth of this digital capital.
