4Creating Value from Data Processing
Today, as long-term economic growth depends on the accumulation of knowledge and the ability to introduce new products, processes, services, and business and organizational models, business competitiveness is determined by a company’s ability to organize a space that is beneficial to science, technology and innovation. With the phenomenon of Big Data, data is now central to a company’s decision-making process, and is a new precious tool for directing their strategic vision.
In a changing world, data – increasingly large, rich, and varied – represents a major asset for businesses provided they can capture, combine, and analyze it. Data can be seen as an asset if it has the potential to create value for companies. These can predict possible outcomes by studying both structured data and the continually expanding mass of unstructured data from different sources, and then by sharing those results to discover any relevant correlations.
By publishing reusable data, public and private organizations are thus supporting the development of new services as well as the content within them. The availability of more and more “open data” is important. Open Data is a broad movement of opening up data, initiated in the USA during the “Freedom Act” which, like Google Maps, Amazon or eBay has revolutionized how we consume data. This openness will lead to new applications and promote innovation with new tools for the value-creation of these data.
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