Big Data Makes Organizations Smarter, but Open Data Makes Them Richer

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Gartner analysts said that any business that has a data warehouse should consider how it can use data as a strategic asset and revenue generator. Maturing technologies for data quality and data anonymization can help mitigate regulatory restraints and risk factors. Open data APIs provide simple, Web-oriented means for data exchange, and linked data techniques are effective for generating big datasets. When considering the long-term benefits of an open data strategy, organizations should investigate the types of data exchange now emerging where information producers and consumers share data for profit.

Whereas "Big Data" will make organizations smarter, open data will be far more consequential for increasing revenue and business value in today's highly competitive environments, according to Gartner, Inc.

"Big Data is a topic of growing interest for many business and IT leaders, and there is little doubt that it creates business value by enabling organizations to uncover previously unseen patterns and develop sharper insights about their businesses and environments," said David Newman, research vice president at Gartner. "However, for clients seeking competitive advantage through direct interactions with customers, partners and suppliers, open data is the solution. For example, more government agencies are now opening their data to the public Web to improve transparency, and more commercial organizations are using open data to get closer to customers, share costs with partners and generate revenue by monetizing information assets."

 

Related Topics : Business Intelligence Vendors, Data Quality, Data Warehousing, Key Performance Indicators, Knowledge Management

 
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