As data scientists and civic and business leaders across the country marshal the power of data and analytics to grow the economy and address societal challenges, New Jersey ranks 23rd in how well-prepared it is for success in this new data-driven environment, according to a new analysis by the Center for Data Innovation.
The Center, a data-policy think tank affiliated with the Information Technology and Innovation Foundation, ranked states on their progress in developing key assets necessary to take advantage of data-driven innovation. The new report found wide gaps among the states—but also a clear policy formula to encourage and enable data-driven innovation. The Center concludes policymakers should take action to ensure high-value datasets are publicly available, key digital infrastructure is widely deployed, and necessary human capital and business resources are in place.
“Data innovation will be a crucial driver of economic and societal progress in the coming decades,” said Daniel Castro, the Center’s director and the report’s lead author. “Some states are actively building the foundations necessary for a thriving data economy, and others are lagging. Decisions that policymakers in New Jersey make today will have long-term implications for its future growth and its residents’ quality of life, as data plays an increasingly important role in the economy. By positioning itself at the forefront of data innovation, New Jersey will be able to grow and attract the right kinds of companies to become a hub in the data economy.”
The Center’s analysis is the first of its kind, assessing states’ relative strength in 25 indicators covering three categories of assets critical to encouraging and enabling data-driven innovation:
The Center for Data Innovation offers a series of recommendations for states to better develop the underlying assets necessary for success in the data economy:
“While the data economy is rapidly maturing, these are still early days,” said Castro. “Policymakers in New Jersey have an opportunity to maximize the state’s potential to leverage data for social and economic good if they continue investing now in the data, technology, and people necessary for data-driven innovation to flourish.”Related Articles: