If data truly is the oil of the 21st century, then what does that make Open Data
? The enormous economic, social and environmental potential in Open Data has been clear to governmental bodies for quite some time now. Yet, recently, we see it also, more and more frequently, being recognized by communities, and, most importantly, in the private sector, by both startups and large enterprises. Whether their business model revolves around sharing, using or selling data, major stakeholders in the market are all aware that removing barriers can spark innovation, which holds the key to new knowledge, products and services.
But, just like crude, if unrefined, data cannot really be used. Following the 5 Star Data roadmap
proposed by Sir Tim Berners Lee, the father of the World Wide Web, we now know that in order to maximize such potential, data needs to be linked. To a machine, such a Web of Data, would represent the ultimate source of knowledge and allow it to move away from a single bit of information and find related information. Consequently, to humans in the highly competitive world of business, it would immediately translate to substantial differences in efficiency/revenue or, put simply, impact.
Even though we are still waiting for the rise of truly intelligent machines, the practical applications of such semantic technologies are virtually endless. Already being used for building classifications, taxonomies and data models, for interlinking, enrichment and integration, it is leaving a huge impact on interoperability, in the public and private sector alike, and revolutionizing the domain of Business Intelligence. This approach, we nowadays refer to as Linked Data
, is gaining momentum everywhere around us and has contributed considerably to the success of the economic giants such as Google, Facebook, Apple, the BBC and many others.
||Speaker: Mr. Uroš Milošević
Uroš Milošević is a Semantic Technology Architect, Project Manager and a Consultant for the European Commission at TenForce. He has a background in Business Information Systems and Artificial Intelligence, and is an avid aficionado when it comes to all things data (big, linked, open) and innovation (exploration, integration, visualization).