Exploiting the value of data through data value networks

Open data is increasingly permeating into all dimensions of our society and has become an indispensable commodity that serves as a basis for many products and services. Governments are generating a huge amount of data spanning different dimensions. This dataification shows the paramount need to identify the means and methods in which the value of data and knowledge can be exploited. While not restricted to the government domain, this dataification is certainly relevant in a government context, particularly due to the large volume of data generated by public institutions. In this paper we identify the various activities and roles within a data value chain, and hence proceed to provide our own definition of a Data Value Network. We specifically cater for non-tangible data products and characterise three dimensions that play a vital role within the Data Value Network. We also propose a Demand and Supply Distribution Model with the aim of providing insight on how an entity can participate in the global data market by producing a data product, as well as a concrete implementation through the Demand and Supply as a Service. Through our contributions we therefore project our vision of enhancing the process of open (government) data exploitation and innovation, with the aim of achieving the highest possible impact.