McKinsey & Co. estimates that open data can provide $3 trillion to $5 trillion in value to the global economy each year. "Data is a valuable national asset that should be open and available to the public, to entrepreneurs, to scientists and others, instead of being trapped in closed government systems," said Nick Sinai of the White House's Office of Science and Technology Policy. "The creation of organizations like the new U.S. Open Data Institute can help mobilize stakeholders to realize the full potential of open data."

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