On 25 February, the European Data Portal has published its latest study on “The Economic Impact of Open Data : Opportunities for value creation in Europe”. The study researches the value created by open data in Europe, identifying an open data market size of approx. €184 billion with forecast of reaching between €199.51 and €334.21 billion in 2025. The efficiency gains from open data, such as potential lives saved, time saved, environmental benefits, and improvement of language services, as well as associated potential costs savings are explored and quantified where possible.
In a recent interview, Esther Huyer - Senior Consultant at Capgemini Invent – also explains the impact of limited access to language data in this respect: If, for example, you type in Google “flue remedies” in English, you will get millions of results. However, if you type in “flue remedies” in Latvian and only look for Latvian results, you will 713 times less results. Ms. Huyer hence concludes that “access to knowledge can grow substantially when we translate English content into other languages and especially in language minorities”. The importance of language data hence has significantly increased for instance because we create more and more text and content while the world and in particular Europe and its Digital Single Market (DSM) are growing together resulting in e-government services and businesses needing to serve more and more languages. If you are interested in seeing the full interview, please watch the video which is available online.