OpenDataPolicy

Public Data Valuation for Defining Open Datasets The data valuation process to enable the publication of open datasets at scale passes through several main phases as follows: Step 1: Identifying Data and Public Information To assess data value, a public entity shall classify data (in line with the Data Classification Policy) and shall identify all “publicly” classified datasets that may be composed of files, tables or specific records in a database, etc. Afterwards, the benefits, applications, and potential uses for every dataset shall be defined. It is possible to consider the data domain or sector when analyzing potential use cases; for example, GIS data can be used to benefit the health sector. In addition, it is possible to take data sources into consideration: data collected from users directly; data automatically collected through recorded events such as electronic transactions; aggregated data, or data developed from combining data, etc. Step 2: Assessment of Data Value After identifying the datasets in the previous step, an analysis shall be made of the main factors related to data usefulness which play a critical role in assessing its value, such as data completeness, accuracy, consistency, timeliness, restrictions, exclusivity, potential risks of publication, or ability to access and integrate with other data. Step 3: Identifying Potential Stakeholders After assessing the data value in the previous step, all potential stakeholders, whether entities or individuals, shall be identified across the entire value chain; for example, it is possible to publish consumer trends to product manufacturers, not only to retail stores. Therefore, it is important to understand the key drivers for stakeholders, such as generating revenues by Public developing data products or services for public benefit such as those contributing to improving the quality of life. After the data valuation process is completed, the open data lifecycle may start as described herebelow.