The importance of the available data for the development of businesses was highlighted by the Hellenic Federation of Enterprises (SEV), in the context of an event entitled “The power of data: a lever for business and economic growth.”
More specifically, 86% of businesses that systematically utilize the data adapt better to market changes, according to SEV.
In addition, a 20% reduction in production equipment maintenance costs, a 30% increase in cash reserves, a 73% improvement in employee performance and productivity, 5%-10% lower storage costs, and a 50% shorter waiting time for customer requests are ensured. The President of the Executive Committee and Vice President of the Board of Directors of SEV, Rania Ekaterinari, stated that “despite the fact that 94% of CEOs understand the value of data, the majority of executives worldwide continue to make 50% of their regular decisions based on experience or intuition. However, businesses that make decisions based on data reap significant benefits, regardless of size. High added value to the Greek economy can also arise from the use of open public data. In combination with private sector data, they can lead to an increase of up to 4% of GDP, contributing to a 20%-30% boost in business innovation in fields such as agrotechnology and health technologies.”
In particular, the availability of public data enhances product and service innovation by 20%-30%, reduces costs and administrative burdens by 10%-30% and shortens problem-solving times related to public safety, healthcare, education, and crisis management by 15%-40%. In our country, it can help businesses unlock new possibilities, develop innovative products (e.g. AI applications, sales improvement, geo-information, etc.) and attract highly specialized talent in STEM fields. It can also significantly help the public sector to enhance the quality and reliability of the services it offers.
