The Next Big Thing
Posts about next generation technologies and their effect on business.

Opportunities in Open Data

derived data.pngA long while back, I mentioned a kickoff presentation to the Open Data effort in Toronto. This meeting was focused on opening up the underutilized existing data, enabling the generation of new value for those living in Toronto.

 

Many organizations today need to inventory their data and (probably more importantly) the derived data. As part of this cataloging effort, they can look at the possibilities to leverage the data with publically and commercially available data opening up new levels of context understanding and possibility for the organization.

 

It is interesting when you talk to organizations about their data. They rarely understand the range of what is valuable, internal and proprietary -- let alone what could be merged with information from the government or other sources to make better decisions.

 

Many governments like the United States, Canada, Mexico and Singapore are opening up the floodgates of public data. For companies who understand that their data is being valued by their partners and customers, it can be a differentiator for those relationships. Naturally competitors are interested in the data as well, so a balance needs to be reached.

 

There are many companies across the globe that aggregate data from numerous sources and provide insight to help with decision making. Examples of some unusual types of searches anyone can do are: Coffee vs. Tea or what’s interesting about this day or what countries have the highest download speed.

 

Now these tools that once required high powered, custom solutions are more common – through the abundance of IT capabilities. It is shifting the foundations of what is thought of as possible.

Examples of where open data integration are making a difference:

Or the example I posted on a while back about the shifts that will come to the healthcare space when we have more genomic information and greater understanding of the effectiveness of treatment based on genetic makeup, not just the statistical average.

 

Information sources that contain demographic data, financial transactions, health-care benchmarks, and real-time location data are becoming prevalent. A myriad of new context-based possibilities exist for organizations to exploit both to understand their business better, differentiate themselves in the mind of the customer and generate economic value.

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About the Author
About the Author(s)
  • Steve Simske is an HP Fellow and Director in the Printing and Content Delivery Lab in Hewlett-Packard Labs, and is the Director and Chief Technologist for the HP Labs Security Printing and Imaging program.
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