Exploring the Value of Open, Federal Data

WASHINGTON, Sept. 18, 2014 /PRNewswire-USNewswire/ -- The U.S. Department of Commerce's Under Secretary of Economic Affairs Mark Doms spoke at a panel on Capitol Hill today on the value that government data provides our economy, society and the future for U.S. innovation.  The event was hosted by U.S. Senator Mark Warner (D-VA) and the Center for Data Innovation.

"Government data is the foundation of the data revolution, fostering innovation, creating jobs and driving better decision-making in both the private and public sectors," Doms said.  "The federal government is the only provider of credible, comprehensive, and consistent data on our people, economy, and climate.   Looking to the future, by teaming more with our private data users, we can create timelier, more localized data that will better inform all Americans, strengthening our economy and society.

"As a former businessman and governor, I fully understand how valuable data can be to inform and drive decision-making," Sen. Warner said.   "That's why, as Chairman of the Budget Committee's Government Performance Task Force, I've been fighting to expand the use of government data to transform the way the public and private sectors work.   I look forward to working together to explore how we can harness this data to support improved outcomes and economic growth for our businesses and communities."

Panelists at the event included:  Daniel Castro, Director, and Center for Data Innovation; Kathleen Phillips, Chief Operating Officer, Zillow; Tom Schenk, Chief Data Officer, City of Chicago; and Steven Adler, Chief Information Strategist, IBM.

"Government data has enormous public value, both economically and socially," said Daniel Castro, Director of the Center for Data Innovation.  "As the information economy grows we need to make sure Congress continues to invest in our data infrastructure while also ensuring that data flows seamlessly between the public and private sectors.   By considering new opportunities to enable cooperation between government and industry, we can provide the benefits of big data to the greatest number in society."

During the panel, Zillow's COO Kathleen Phillips discussed how the company used a wide variety of federal and local open data sets to fuel their forecasts of home values, down to the neighborhood level.   Zillow uses data from the U.S. Census Bureau, the Bureau of Economic Analysis, the Bureau of Labor Statistics, and the Federal Housing Finance Agency to help inform home sales for more than 50 million individual properties.

The briefing also showcased the new report from the U.S. Department of Commerce's Economics and Statistics Administration entitled: "Fostering Innovation, Creating Jobs, Driving Better Decisions:  The Value of Government Data." The report finds that federal government data, which is uniquely comprehensive, consistent, confidential, credible, relevant, and accessible, guides trillions of dollars in investments and billions in economic output each year, at a low cost relative to its large economic impact.

As "America's Data Agency" the U.S. Department of Commerce is also developing and implementing a vision for the next phase in the open data revolution.  The Department of Commerce will hire its first-ever Chief Data Officer in the coming months.  Also, the Department will create a Data Advisory Council, which will be comprised of private sector leaders who will advise the Department on best practices to make our government data more accessible and informative.

For more information go to the Economics and Statistics Administration website; the Center for Data Innovation website.

The mission of the Economics and Statistics Administration is to provide high-quality economic analysis and foster the missions of the Census Bureau and the Bureau of Economic Analysis. Join us on the web at www.esa.gov , on Facebook and on Twitter @esaundersec.  Sign up to receive current economic indicators here: http://www.esa.doc.gov/about-economic-indicators.

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SOURCE U.S. Department of Commerce