Innovation Impact: Income Volatility Dataset

Edinburgh Innovations, part of the University of Edinburgh, has released its 2023/24 innovation impact report, Power of Innovation, showcasing the power of facilitating research without boundaries to deliver world-class innovation and make ideas work for a better world. 

Harnessing data for public good

The Income Volatility Dataset, launched by Smart Data Foundry in partnership with the Joseph Rowntree Foundation, was highlighted by the report as an example of innovation in the space of harnessing data for public good.

Income volatility presents a growing challenge for many households, and innovative data-driven approaches are essential for developing solutions...This initiative will provide unprecedented access to information on economic insecurity trends and help identify potential solutions to this pressing societal issue.

The dataset powers the Income Volatility Dashboard, displaying aggregated, de-identified financial data from millions of UK households. The dashboard is free to use, and enables users to explore the data by geography, demographics and financial activities. Researchers and academics may also request access to raw data via the Trusted Research Environment to support research into income volatility, poverty and economic wellbeing. 

Learn more about research solutions here. 

Our ecosystem

Smart Data Foundry is proud to be part of the University of Edinburgh’s innovation ecosystem; we are a partner in the Data-Driven Innovation initiative and were one of the first tenants to move into the brand new Edinburgh Futures Institute this summer where we are co-located with other data innovation organisations. 

We recognise that data is only one part of the solution to the societal challenges of poverty, inequality and economic wellbeing; lasting change requires collaboration. We work closely with a broad ecosystem of industry, academia and data partners, inspiring research and fostering dialogue to inform impactful policies that improve people’s lives.

Learn more about our ecosystem here.