Data-Driven Innovation: Big Data for Growth and Well-Being

Today, the generation and use of huge volumes of data are redefining our "intelligence" capacity and our social and economic landscapes; spurring new industries, processes, and products; and creating significant competitive advantages. In this sense, data-driven innovation (DDI) has become a key pillar of 21st-century growth, with the potential to significantly enhance productivity, resource efficiency, economic competitiveness, and social well-being.Greater access and use of data create a wide array of impacts and policy challenges, ranging from privacy and consumer protection to open-access issues and measurement concerns, across public and private health, legal and scientific domains. This report aims to improve the evidence base on the role of DDI for promoting growth and well-being and provide policy guidance on how to maximize the benefits of DDI and mitigate the associated economic and societal risks.