The data economy creates a value of hundreds of millions of euros in the transport data economy in Finland

The traffic data economy in Finland generates a value amounting to hundreds of millions of euros. This value creation occurs within a complex and diverse ecosystem, where the interactions among various stakeholders lead to significant outcomes. Understanding and verifying these outcomes are crucial for advancing the transport data economy and establishing the coordinated data ecosystem under Fintraffic's leadership.

During the spring and summer, Fintraffic conducted a study to assess the impact of the transport data ecosystem in collaboration with FLOU (https://www.flou.io). This research aimed to uncover strategies for enhancing and quantifying the level of digitization within the transport ecosystem.

The research primarily delved into the aspects of data and infrastructure, encompassing technical foundations, data model standards, APIs, and more. Additionally, it explored cooperative elements within the transport data ecosystem. Calculations from the previous year reveal that the value of the transport data economy surpassed 400 million euros, with Fintraffic's share amounting to approximately 40 million euros (as depicted in the provided image).

Globally, limited comprehensive information is available about data ecosystems, particularly in the realm of transport data. Evaluating the impact of data remains a universal challenge across industries due to the extended time frame and intricate value chains involved in generating impact. The impact stemming from the data ecosystem takes on both direct forms, such as business influence, and indirect forms, like societal benefits. For instance, Fintraffic's data initiatives contribute to impact by providing time-related insights that translate into time saved, financial savings, and reduced emissions. Moreover, innovative services have emerged from this data, fostering corporate growth and enhancing the well-being of individuals.

The impact pathways within the data ecosystem are often lengthy and complex. When assessing Fintraffic's impact, a notable hurdle was the lack of comprehensive information regarding all usage cases and data volumes exchanged through the Digitraffic and Digitransit platforms.

To measure the impact of Fintraffic's transport data ecosystem, various metrics are employed:

• Annual surveys or interviews with companies to gauge data usage, company size, productivity, products, services, and the influence of data. Additionally, the investments made by companies leveraging transport data are quantified.
• Extrapolating the total market and user base of Fintraffic's services based on its market share.
• Monitoring data consumption volume and application scenarios.
• Soliciting user feedback.
• Tracking the inclusion of external data sources within the Digitraffic platform.
• Monitoring and measuring data-related projects.

Through proactive involvement in promoting the transport data ecosystem, sharing raw and processed data, and offering information services, Fintraffic achieved a significant business impact ranging from 10 to 40 million euros, along with a social impact of 4 to 26 million euros in 2022 within the Finnish transport data economy.