Given the flood of data generated by digital devices around the globe:
Researchers and policymakers are beginning to realise the potential for channelling these torrents of data into actionable information that can be used to identify needs, provide services, and predict and prevent crises for the benefit of low-income populations. Concerted action is needed by governments, development organizations, and companies to ensure that this data helps the individuals and communities who create it.
The report highlights a few key areas where this data could make the most difference:
- Financial Services
They name user-centric solutions offering compelling possibilities.
Data ecosystem dynamics are highlighted as a future focus to consider different types of data, actors and their incentives along with proposing the development of a data commons.
Obstacle that are named include:
- Privacy and Security
- Data Personalization
- Data Sharing Incentives
- Human Capital
Novel approaches to overcoming these obstacles are named such as “data philanthropy” and of course Governments have a catalytic role to play.