This video answers a common question of whether open data can generate new revenue.
- [Narrator] A question that I receive often is,…"What is the return on investment for an open data program?"…It's an important question because agencies…with limited budgets have to make priority decisions…on where to spend money every day.…Investing money in people in open data…take both of those things away from investing…elsewhere in a community.…There is a sense that open data is good to have,…but not essential.…In particular, if a return on investment is not clear,…open data will not be addressed by the majority of agencies…that still have not yet made a commitment to it.…
One of the follow up questions that is often popular…as a result is whether it is possible for open data…to be a source of revenue for a government agency?…If this were possible, not only could the revenue…pay for building and maintaining the open data program,…but any additional funds could be used to supplement…other revenue sources from important government programs.…Let's explore these two questions.…I'll begin with the question of whether there is…
Dr. Jonathan Reichental introduces real-world use cases for open data, as well as the steps you need to take to develop and operationalize an open data program. He also explains how data scientists use open data to tell stories and drive data visualizations. Along the way, he provides numerous examples of open data in action: improving government, empowering citizens, creating opportunity, and solving public problems.
- Understanding what open data really is
- Current open data efforts around the globe
- Open data in action
- Designing an open data governance process, including policies
- Monetizing open data
- Storytelling with open data
- Selling the value of open data
- Measuring the value of open data