Assessing the economic potential of big data industries

Abstract

Information and communication technologies have made possible that data can be collected and processed at rates previously unseen. It is the big data phenomenon, which holds potential to boost innovation and improve productivity growth. This chapter attempts to provide some evidence of the strengths and challenges faced by big data industries. Attention is focused on the position that these industries hold within the economic network in terms of their access to information and knowledge. To achieve this aim, network analysis is used over input-output table information. Given the absence of appropriate statistical data for developing countries, attention is paid to two developed countries, Slovenia and Slovakia, which show some common features in their patterns of digital development with some developing countries. Results show that while the levels of efficiency of these industries are high, they are missing some key economic links with other sectors of the economy.