Big Data, Open Data and Data Development by Jean-Louis Monino

Author:Jean-Louis Monino [Monino, Jean-Louis]
Language: eng
Format: epub
Published: 2016-02-15T10:27:47+00:00

Data Development Mechanisms 45

This explosion of data volumes will gradually increase as the

Internet of Things develops. Human beings are relayed in their “data production” by a multitude of sensors, whether at home or in their means of transport. In parallel, the production of data outside of the traditional boundaries of a company (and their information systems) is growing exponentially, particularly via social media. Data produced are relatively unstructured (photos, videos, etc.).

The data market is, therefore, in a situation where the quantity

offered is much higher than the quantity demanded. This phenomenon is essentially due to the fact that our mental capacities and our

available time to deal with the information are limited. The increasing digitization of our activities, the ever-increasing ability to store digital data and the subsequent accumulation of all kinds of information

generates a new industry that focuses on the analysis of large volumes of data.

Big data has been qualified as “the next frontier for innovation,

competition and productivity” [MAN 11]. It offers businesses

unprecedented opportunities for increased revenues, performance and knowledge related to their business, to the market and clients. Data from social media is a perfect example.

Using technology to capture data from Facebook, Linkedin,

Twitter, etc., the company can refine brand management, find new

distribution channels and strengthen the customer relationship. The accumulation of data through diverse information systems has a

potential value that companies are not always aware of. Even if they do not necessarily understand how to use them themselves, they have resources that they do not yet value and this data and its usage is a source of capital for these businesses.

The challenge of valuing data is working out, in an intelligent

manner, which of them are usable. Solutions and methods have been put in place by companies such as Google, Amazon and others for whom

“Big Data” really makes sense. These organizations are characterized

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