Academic Journal

The Economics of Data: Treating Information as a New Factor of Production

Bibliographic Details
Title: The Economics of Data: Treating Information as a New Factor of Production
Authors: Vivek Kumar Singh
Source: International Journal of Integrated Research and Practice ; IJIRP: Vol 2, Issue 6, June 2026; 78-89 ; 3107-5037
Publisher Information: Paradox International Publications
Publication Year: 2026
Subject Terms: Data Economics, Data as a Factor of Production, Digital Economy, Information Economy, Data-Driven Innovation, Artificial Intelligence, Big Data, Digital Transformation, Productivity, Data Governance, Data Ownership, Competitive Advantage, Digital Markets, Economic Value of Data, Knowledge Economy
Description: For businesses, information has emerged as a major economic resource and has revolutionised the way value is created, resources are managed and competition is determined in more and more digitalised markets. Land, labour, capital and entrepreneurship are the traditional key factors that explain economic production, but the size, speed and importance of data in the strategic planning of economic production require a rethinking of this framework. In this paper, the economics of data is discussed, as information is being reconsidered as a new, and increasing, factor of production. It includes a discussion of the role of data in enhancing productivity, innovation, decision making, market efficiency and developing data-driven business models. Data is not like the traditional productive resources, being copyable, shareable, combinable and reusable with low marginal costs, and can be of increasing value when combined with powerful analytical tools, Artificial Intelligence, digital infrastructures and expertise. The paper also looks at the economic risks of data ownership, privacy, asymmetries of information, unequal access, data monopolization, cyber security and digital market power. Special emphasis is placed on how organizations convert raw data into economically value information, and actionable intelligence. The study represents a broader picture of the current digital economy and new areas of competitiveness for these economies by recognizing data as a valuable economic product. It concludes that data governance, responsible data-sharing agreements, investments in data digitalization and access to information for all are vital to unlocking the economic value of data and to sustainable and inclusive growth.
Document Type: article in journal/newspaper
File Description: application/pdf
Language: English
Relation: https://ijirp.org/index.php/files/article/view/197/183; https://ijirp.org/index.php/files/article/view/197
DOI: 10.65579/31075037.0169
Availability: https://ijirp.org/index.php/files/article/view/197
https://doi.org/10.65579/31075037.0169
Rights: Copyright (c) 2026 Vivek Kumar Singh (Author) ; https://creativecommons.org/licenses/by-nc/4.0
Accession Number: edsbas.52241838
Database: BASE
Description
DOI:10.65579/31075037.0169