Source page: McKinsey & Company
Commentary
Free the data, unleash growth
Financial services | Economic Development
July 15, 2021 – New research from McKinsey Global Institute finds that the potential value of open financial data for a country ranges up to 5 percent of GDP, depending on economic structure and levels of financial access. Emerging economies stand to benefit more than advanced ones because they tend to have lower levels of financial inclusion and less financial depth. All market participants benefit to varying degrees.
To read the article, see “Financial data unbound: The value of open data for individuals and institutions,” June 24, 2021.
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Visual form
Animated segmented diamond comparison chart.
Layout / body structure
The chart is a single comparison field with four tilted region tiles spread across the page and a legend at the upper right. Reader moves region by region through EU, UK, US, and India, reading each diamond’s size first and then the three internal segments that divide the value among market participants; the animation stages the shapes in before the full set is visible.
What is being compared
The chart compares potential GDP impact by 2030 across four regions and breaks each region’s value into the shares accruing to individuals, MSMEs, and financial institutions.
Measurement system
The measurement combines total GDP-impact ranges and internal share percentages. EU, UK, and US are each labeled at 1 to 1.5 percent of GDP, India is labeled at 4 to 5 percent, and the segment labels inside each tile show the participant shares, such as EU 17, 37, 45 and India 26, 55, 18.
Visible structure inside the graphic
Each region is shown as a tilted square or diamond sized to its total impact and split diagonally into three colored segments keyed to the legend. The India diamond is much larger than the others, while the EU, UK, and US tiles are smaller and arranged around it with their segment numbers printed directly inside the shapes.
Main takeaway from the visual
India stands apart visually because its GDP-impact tile is much larger than the others and its dark MSME segment takes the biggest share of that large diamond. The EU, UK, and US tiles sit in a smaller impact band and look more balanced between financial institutions and individuals.
Key standout values or extremes
India carries the largest overall range at 4 to 5 percent of GDP, versus 1 to 1.5 percent for EU, UK, and US. Inside the tiles, India assigns 55 percent to MSMEs, while the EU shows 45 percent to financial institutions, the UK splits 44 percent to individuals and 43 percent to financial institutions, and the US shows 44 percent to financial institutions and 37 percent to individuals.
Controls / sequence, when applicable
This is a static chart image with no in-chart controls to operate.
Companion media, when applicable
There is no separate companion audio or video; the chart image is the full visual on this page.