The Value of Publically Available Datasets and How Can it Benefit Your Business?

The information has become an essential resource in the modern world. Whether you are a researcher, a government policymaker, a student, or an entrepreneur, you will likely use insights to make decisions. While businesses prepare to pay a premium to get quality information, the landscape of information availability has drastically changed in recent years. Classified information remains essential. However, publicly available datasets have made their mark in recent years. What are publicly available datasets and how businesses can benefit from them? Read on, as we answer these questions in this article.

The Democratization of Information

If you manufactured a product in Western Europe 200 years back, then you likely competed with other manufacturers in the near vicinity. Even if another business manufactured the same product in the Asia Pacific, it couldn’t compete with you. The logistics infrastructure to enable the Asia Pacific manufacturer to sell its products in Western Europe didn’t exist. However, a more fundamental factor ensured that you competed only against local businesses at that time.