Data Flow & Transaction Mode Classification and An Explorative Estimation on Data Storage & Transaction Volume

Cai Yuezhou*1 and Liu Yuexin2

1 Institute of Quantitative & Technological Economics (IQTE), Chinese Academy of Social Sciences (CASS), Beijing, China

2 University of Chinese Academy of Social Sciences (CASS)

Abstract: The public has shown great interest in the data factor and data transactions, but the current attention is overly focused on personal behavioral data and transactions happening at 􀀁ata 􀀂􀀃changes. To deliver a complete picture of data 􀀄ow and transaction, this paper presents a systematic overview of the 􀀄ow and transaction of personal, corporate and public data on the basis of data factor classification from various perspectives. By utilizing various sources of information, this paper estimates the volume of data generation & storage and the volume & trend of data market transactions for major economies in the world with the following findings: (i) Data classification is diverse due to a broad variety of applying scenarios, and data transaction and profit distribution are complex due to heterogenous entities, ownerships, information density and other attributes of different data types. (ii) Global data transaction has presented with the characteristics of productization, servitization and platform-based mode. (iii) For major economies, there is a commonly observed disequilibrium between data generation scale and storage scale, which is particularly striking for China. (iv) The global data market is in a nascent stage of rapid development with a transaction volume of about 100 billion US dollars, and China’s data market is even more underdeveloped and only accounts for some 10% of the world total. All sectors of the society should be fully aware of the diversity and complexity of data factor classification and data transactions, as well as the arduous and long-term nature of developing and improving relevant institutional systems. Adapting to such features, efforts should be made to improve data classification, enhance computing infrastructure development, foster professional data transaction and development institutions, and perfect the data governance system.

Keywords: Data factor, data classification, data transaction mode, data generation & storage volume, data transaction volume

JEL Classification Code: D83, O25

DOI: 10.19602/j.chinaeconomist.2022.11.04