In 2015 the European Commission adopted the Digital Single Market (DSM) strategy, aiming to establish common European data protection rules, reform telecoms rules and modernise copyright rules, among other goals. The authors in this Forum review the progress made thus far and explore the opportunities for further improvements to the EU’s digital regulatory framework. How can the DSM ensure data privacy and online consumer protection? What degree of harmonisation of rules in the 28 member states is necessary? Can small businesses take advantage of the potential benefits of big data, or are these benefits limited to large companies that can afford to invest in the proper analysis of the data? What lessons can the EU draw from experiences in other parts of the world? Perhaps most importantly, how can the DSM be optimised to support European innovation and economic growth?