Open data in Malaysia, if fully realized, can potentially unlock US$12 – US$18 billion in total economic value annually. Last year, a study was conducted by Frost & Sullivan to access the opportunity and impact of open data in Malaysia.
The total economic potential that Malaysia can potentially unlock is in the range of US $ 12 Billion to US$ 18 Billion annually. This is based on the global potential open data impact, Malaysian GDP proportion and other factors like technology adoption as well as PPP factor. The current realized impact is 0.3% of the potential data impact, the proportion of realized impact and potential impact calculated for Malaysia earlier.
The Government should consider adopting the following initiatives to promote open data to harness the transformational value of data.
- Publish and regularly update information on public bodies, government educational institutes, and public hospitals with Application Programming Interfaces (APIs).
- Publish data that can be used for public good, including real-time weather updates, real-time traffic information, GIS, census, and energy efficiency data with APIs.
- Make it mandatory for private organisations such as hospitals and educational institutions to publish data with APIs.
- Encourage industries to share data to achieve better operational efficiencies.
The paper also shares plenty of open data use case and success stories from all over the world. Download Big Data analytics Initiative: Assessing the Opportunity & Impact of Open Data in Malaysia