Imperial College London
Portrait Picture

ProfessorJonathanHaskel

Business School

Chair in Economics
 
 
 
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Contact

 

+44 (0)20 7594 8563j.haskel Website CV

 
 
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Assistant

 

Ms Donna Sutherland-Smith +44 (0)20 7594 1916

 
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Location

 

296Business School BuildingSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@unpublished{Goodridge:2015,
author = {Goodridge, PR and Haskel, J},
publisher = {Imperial College Business School},
title = {How does big data affect GDP? Theory and evidence for the UK},
url = {http://hdl.handle.net/10044/1/25156},
year = {2015}
}
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RIS format (EndNote, RefMan)

TY  - UNPB
AB  - We present an economic approach to measuring the impact of Big Data on GDP and GDP growth. Wedefine data, information, ideas and knowledge. We present a conceptual framework to understandand measure the production of “Big Data”, which we classify as transformed data and data-basedknowledge. We use this framework to understand how current official datasets and concepts used byStatistics Offices might already measure Big Data in GDP, or might miss it. We also set out howunofficial data sources might be used to measure the contribution of data to GDP and presentestimates on its contributions to growth. Using new estimates of employment and investment in BigData as set out in Chebli, Goodridge et al. (2015) and Goodridge and Haskel (2015a) and treatingtransformed data and data-based knowledge as capital assets, we estimate that for the UK: (a) in 2012,“Big Data” assets add £1.6bn to market sector GVA; (b) in 2005-2012, account for 0.02% of growthin market sector value-added; (c) much Big Data activity is already captured in the official data onsoftware – 76% of investment in Big Data is already included in official software investment, and76% of the contribution of Big Data to GDP growth is also already in the software contribution; and(d) in the coming decade, data-based assets may contribute around 0.07% to 0.23% pa of annualgrowth on average.
AU  - Goodridge,PR
AU  - Haskel,J
PB  - Imperial College Business School
PY  - 2015///
TI  - How does big data affect GDP? Theory and evidence for the UK
UR  - http://hdl.handle.net/10044/1/25156
ER  -
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