The Value of Big Data - From Data-Driven Enterprises to a Data-driven Economy

author: Stefan Wrobel, Fraunhofer IAIS
published: March 31, 2014,   recorded: March 2014,   views: 4653


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The phenomenon of Big Data has captured the imagination of businesses, public bodies and society as a whole. Technical advances in computer science seem to have made it possible to not only generate, transport and store, but also to analyze extremely large volumes of data in order to arrive at useful information, and corresponding gains in efficiency and competitiveness are expected to be a crucial factor for the future of our economies. Based on recent studies, the talk tries to assess just where we are along the road of actually realizing these benefits of big data. What is the actual uptake of Big Data in companies, and where can we expect the major obstacles? We formulate a number of key requirements for the future development of big data, both in terms of the research challenges that need to be met, as well as in terms of the bigger picture, looking at enablers that could lead to a data-driven economy.

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