Information has value when it allows individuals, agents and organisations to make choices that yield higher expected return than choices made without the benefit of that information.
In the digital economy, every person, every device and every agent becomes a primary producer of data. Anyone can add value to information, by collaborating in its evaluation, aggregation, refinement and interpretation. Each individual has the ability to communicate, to do business and to organise across frontiers, creating new opportunities for cooperation and collaboration in business and society.
In the digital world, data is plentiful and often cheap. Change is needed to derive value from this data, by combining, analysing and indexing it, to ensure that relevant information is accessible to users making decisions.
idea lab — getting value from information