Big data comes out of the backroom and into the show-room. Latest inquiry spans government, education and the private sector. Submissions close on Friday 29th July.

The Productivity Commission is inviting academics, government agencies, and private entities with large data holdings to contribute to a new public inquiry on “Data Availability and Use.”

Chairman Peter Harris says big data and analytics may need to move “out of the backroom and into the showroom.” The way data is being collected and used, or not used, is changing rapidly. “This presents both new opportunities and new risks.”

The latest inquiry explores the benefits of providing greater access for third parties to big data holdings across the public and private sectors. New models are being explored to make data more widely available. This inquiry tracks current policies and regulations that protect the legitimate interests of individuals and businesses. This includes concerns around privacy and confidentiality, and whether the data remains “fit for purpose.”

In an issues paper, the commission notes the subject matter of this inquiry is “virtually without boundaries.” Data is core to developing and delivering most services, both in the paid and unpaid domain. Interested stakeholders can email advice or submissions through a dedicated website. Drawing on these submissions, the commission will release a draft report later this year. A final report is due by March 2017.

Among recent trends, the amount of data being generated, collected and stored is growing exponentially. Data comes from a multitude of transactions, production activities and communications. This includes mobile apps, the internet, and billions of sensors that capture activities in the physical world.

“By some estimates, the amount of data generated worldwide in 2002 (five billion gigabytes) is now being generated every two days,” the commission notes. “Other estimates suggest that 90 per cent of the world’s information was generated in just the past two years.”

Increases in computing power, data storage, capture and matching technologies increase the scope for businesses, individuals or governments to tap into large databases.

For governments, the pace of change reinforces a need to monitor, review and adapt policy settings in a data-rich world. “While governments must be mindful of the legitimate privacy concerns of individuals, and how the ‘digital universe’ is enabling detailed profiles of individuals to be built and used, efficient data management requires more than just privacy standards.”

One hardy perennial is that governments can streamline services through the use of evidence-based data. An astute use of data offers governments, businesses and innovators a chance to reshape markets. They can also alter previously-accepted paradigms around how this dynamic knowledge is used, shared and managed.