by Angela Guess
Nathan Eddy of eWeek reports, "A Gartner report suggests open data can be more valuable to businesses than collecting big data." He explains, "Businesses of all sizes continue to struggle to find a solution for dealing with the growing volume of information flowing into their databases—a mountain of files and figures known as big data. Although that load of information can make businesses smarter, open data will be far more consequential for increasing revenue and business value, analysts at Gartner maintain. Open data, according to the research firm, refers to the idea that certain data should be freely available to everyone to use and republish as they wish, without restrictions from copyright, patents or other forms of control."
Eddy quotes David Newman, research vice president at Gartner, who commented, "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… 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."