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

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Although openness is a pervasive and persistent issue in IT, there is very little agreement about exactly what "open" means. According to Gartner analysts, an informal definition of openness is a level playing field where everyone can play a game that can evolve. There is a positive relationship between the openness of information goods (for example, code, data, content and standards) and information services (for example, services that offer information goods, such as the Internet, Wikipedia, OpenStreetMap and GPS) and the size and diversity of the community sharing them. From the viewpoint of enterprise information architects, this is known as the information-sharing network effect: the business value of a data asset increases the more widely and easily it is shared.

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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