Ovidius University Annals: Economic Sciences Series (Aug 2024)
European Perspectives on Datafication
Abstract
Datafication is changing from the value of concept to the value of layer for the present world. It describes every aspect of our lives with data. In this paper, the researchers put the datafication in the context of the Fourth Industrial Revolution. Also, the authors examine some aspects changed by datafication. The researchers look at several aspects (put in context with the industrial evolution) and also to the effect of datafication on several areas of human activity. By using a qualitative approach, the research examines the datafication and its various dimensions. The results suggest the need for robust, transparent systems to manage the complexity of data and advocate for ethical and privacy considerations. These insights are crucial for policymakers, businesses, and academics, providing a comprehensive understanding of the legal environment, societal impacts, and innovation potential in the European Union.