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The Great Reset - Unleashing the Power of Data Standardization
The World Economic Forum “Great Reset” is an initiative for submissions of ideas that could leverage the disruptive opportunity presented by Covid-19 to “reset” legacy inefficient policies and procedures that under normal circumstances would be hard to change, but in today’s environment could get implemented because the need for efficiency and speed is paramount.
Problem:
Legacy systems that cannot exchange data reliably
Reset:
Leverage open data standards so legacy systems can reliably exchange data
Outcome:
To overcome the “legacy of inefficient policies and procedures” our submission will "Reset" the expensive and burdensome manual processing of data throughout the ecosystem for the Construction of Energy and Transportation infrastructure projects, where true data analytics is not possible because the data elements are not consistent and siloed.
The “Reset” is the ecosystem implementing machine readable data interoperability to streamline administration, reduce costs and improve risk management through data analytics made possible by consistent data elements that are not in silos, but easily and securely exchanged across industry segments.
The Reset Tool and innovation enabler is the XBRL Taxonomy and the Orange Button Taxonomy Viewer to provide all stakeholders the ability to freely exchange data reliably, securely and confidentially, without third parties being required, or imposing proprietary systems.
Measure of Sucess
World Economic Forum
Global search for innovative solutions to the COVID pandemic
Great Reset Webpage – Recover and Rebuild
The Great Reset Dialogues
In the run-up to the Annual Meeting, the Forum will host a virtual series, The Great Reset Dialogues. These dialogues are a joint initiative of the World Economic Forum and HRH The Prince of Wales. Contributions to the Great Reset will also be invited through UpLink, the World Economic Forum’s digital platform to crowdsource innovations for the Sustainable Development Goals
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