There is much to be gained for Danish companies if the potential of data-driven growth is developed and exploited properly. According to OECD, data-driven innovation and the use of Big Data in the future can potentially lead to an increase in productivity of 5-10% across all sectors.
As a result, the Danish Growth Council has launched a list of recommendations of how Danish companies can exploit the new opportunities and create growth based on data.
“Danish companies need to get better at exploiting the large growth potential that lies in data-driven innovation. Therefore, the Danish Growth Council offers a range of concrete recommendations that can encourage an increase the companies’ use of Big Data”, says Lars Nørby Johansen, Chairman of the Danish Growth Council.
However, it is not only the companies themselves, who are responsible for exploiting data-driven opportunities, says the Chairman.
“It is the Growth Council’s experience that we need to take action to create the right framework for data driven growth. This should be partly done by enabling companies to use data on secure basis, and by ensuring that they have access to knowledge and skills and public data. And finally, the companies themselves need to focus on new business models and investments”.
The Danish Minister for Business and Growth, Henrik Sass Larsen says: “In Government, we are very interested in the opportunities that Big Data and new technologies create for Danish companies. It is a theme that is central to the growth plan for digitalisation, and in the work with Denmark as a production country in the future. Our wish is that the big potential of data-driven growth is used in the best way possible”.
Read more: The Danish Growth Council’s report: Big Data as a growth factor in Danish business – potentials, barriers and business policy.