The Global Energy and Water Cycle Experiment (GEWEX) Panel was asked to assess the value of the NEXRAD data for answering key atmospheric and hydrological science questions (see the tasking letter in the appendix). In response, the panel reviewed the status of WSR-88D data collection, processing, and archival, as well as the accessibility of archived data (with an emphasis on Level II). For this purpose, the panel examined reports by R. Carbone (panel member) and G. Mandt, Director, NWS/Office of Meteorology (OM). It should be noted that, because an emphasis of the present review was in identifying areas for improving the utility of the NEXRAD data, the conclusions and recommendations presented in this report could be taken out of context to suggest that the data in their present form have little utility. On the contrary, the panel concluded that the NEXRAD data are valuable for both their real-time applications in weather forecasting, and their utility for studying atmospheric dynamics in greater detail than was previously possible. At the same time, the panel identified strategies that could significantly improve the utility and value of the data.