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Type of economy
A data economy is a global digital ecosystem in which data is gathered, organized, and exchanged by a network of companies, individuals, and institutions to create economic value.[1][2] The raw data is collected by a variety of factors, including search engines, social media websites, online vendors, brick and mortar vendors, payment gateways, software as a service (SaaS) purveyors, and an increasing number of firms deploying connected devices on the Internet of Things (IoT).[3] Once collected, this data is typically passed on to individuals or firms, often for a fee. In the United States, the Consumer Financial Protection Bureau and other agencies have developed early models to regulate the data economy.[4]: 531–32
Storing and securing collected data represent a significant portion of the data economy.[5]
^"Data Market Study 2021-2023. First report on policy conclusions". European Commission. 7 May 2021. Retrieved 7 August 2023.
^Sestino, Andrea; Kahlawi, Adham; De Mauro, Andrea (2 August 2023). "Decoding the data economy: a literature review of its impact on business, society and digital transformation". European Journal of Innovation Management. doi:10.1108/EJIM-01-2023-0078. S2CID 260405973.
^Chamberlin, Bill. "The Data Economy: 2016 Horizonwatch Trend Brief". Horizon Watch. IBM Expert Network. Retrieved 20 August 2018.
^Van Loo, Rory (2018-07-01). "Technology Regulation by Default: Platforms, Privacy, and the CFPB". Georgetown Law Technology Review. 2 (2): 531.
^Information Technology and Innovation Foundation (2017). Post-Hearing Written Submission Nigel Cory Trade Policy Analyst Before the United States International Trade Commission Investigation No. 332-56 Global Digital Trade I: Market Opportunities and Key Foreign Trade Restrictions [PDF file]. Retrieved from http://www2.itif.org/2017-usitc-global-digital-trade.pdf
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