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

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Open data APIs are a lightweight approach to data exchange. Their use is now considered a best practice for opening data and functionality to developers and other businesses. Organizations use APIs to generate new sources of revenue, spur innovation, increase transparency and improve brand equity.

"The challenge for organizations is to determine how best to use APIs and how an open data strategy should align with business priorities," Mr. Newman said. "This is where enterprise architects can help. While some internal IT functions may be using APIs to fulfill local or specific application needs, the enterprise architecture process harvests and elevates good works as first-class strategic priorities that create business-focused outcomes. As a strategic enabler, APIs are a powerful means with which to build an ecosystem, and a first step toward monetizing data assets."

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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