Data Lab Innovation Centre launches

30 October 2014

Big Data is a key area of GCU research

Big Data is a key area of GCU research

The latest of Scotland’s new Innovation Centres, the Data Lab, has launched today in Edinburgh.

The growth of data in recent years means companies are exposed to more information than ever before. Innovative and effective use of data can provide unique business insights for companies to drive their productivity and competitiveness and can help improve public services.

Research conducted by the Centre for Economics and Business Research identified approximately £216 billion of potential business benefits in the UK, over a five year period, through the effective use of data. The potential benefit to Scottish companies is assessed at £17 billion by consultants Optimat.

Formally launching the Data Lab, Finance Secretary John Swinney said: “Research has identified approximately £17 billion of business benefits to the thousands of companies in Scotland, the majority of them SMEs, who provide our best opportunity for economic growth.

“This centre will also help us to use data to address key public policy challenges and improve our public services. I am pleased to announce that we will be working with the Data Lab, and other partners, to launch a public policy challenge to identify projects which can harness the power of data to reduce inequalities, enhance prevention and enable civic participation.’’

Neil Logan, Chairman of The Data Lab and Chief Technology Officer at Lockheed Martin BTS, said: “The Data Lab aims to unlock the value of our world-leading academic institutions and release the potential of our commercial sector in domestic and international markets. Along these lines, it’s immensely encouraging that we are at day one and we’re already funding real projects with real money. We look forward to funding many more and to establishing Scotland’s place at the head of data science development.”

The Innovation Centres provide collaborative opportunities between industry, public sector and academic partners including Glasgow Caledonian University (GCU), providing new ways for business to benefit from the expertise within Scotland’s world-leading university sector.

More about the Data Lab.