Governing had an article recently about better aligning budget with IT innovations.  I thought one portion was especially insightful about the need for data initiatives:

Budget for cross-program initiatives, especially sharing data with communities of interest and the public. Standardized data can allow agencies and the public to report once for many purposes, rather than suffering under requirements for multiple and repeated “single purpose” reports. For example, corporate financial reporting in the Netherlands is now considerably more efficient and effective because firms make available real-time data feeds to replace a series of required reports. Closer to home, the D.C. data feeds and federal Data.gov initiatives are releasing government data to encourage transparency and feedback for better productivity and civic trust. To find these cross-boundary opportunities, the budget process must search for them.