Big Data Value Ecosystem
Big data is expected to impact all sectors, from healthcare to media, from energy to retail. The ability to effectively manage information and extract knowledge is now seen as a key competitive advantage for organizations. This chapter explores the value potential of big data with a particular focus on the European context. The chapter identifies the positive transformational potential of big data within a number of key sectors and highlights the need for a clear strategy to increase the competitiveness of European industries in order to drive innovation and competitiveness. Europe needs to foster the development and wide adoption of big data technologies, value adding use cases, and sustainable business models through a Big Data Ecosystem. Finally the chapter describes the key dimensions, including skills, legal, business, and social, that need to be addressed in a European Big Data Ecosystem.
Data Ecosystem Stakeholders
Big data is the emerging field where innovative technology offers new ways to extract value from the tsunami of available information. As with any emerging area, terms and concepts can be open to different interpretations. The Big Data domain is no different. This chapter examines the different definitions of “Big Data” which have emerged over the last number of years to label data with different attributes. The Big Data Value Chain is introduced to describe the information flow within a big data system as a series of steps needed to generate value and useful insights from data. The value chain enables the analysis of big data technologies for each step within the chain. The chapter explores the concept of a Big Data Ecosystem. It examines the use of the ecosystem metaphor within the business community to describe the business environment and how it can be extended to the big data context. Key stakeholders of a big data ecosystem are identified together with the challenges that need to be overcome to enable a big data ecosystem in Europe.
Data Value Chain
Research and Innovation Roadmap
This chapter describes big data roadmaps for Europe in the areas of technology, business, policy, and society. The roadmaps outline the most urgent and challenging issues for big data in Europe. They are the result of over 2 years of extensive research and input from a wide range of stakeholders from the European big data ecosystem. The roadmaps will foster the creation of a more stable big data environment by enabling enterprises, business, entrepreneurs, SMEs, and society to gain from the benefits of big data in Europe. The chapter introduces the Big Data Value Association (BDVA) and the Big Data Value contractual Public Private Partnership (BDV cPPP) and describes the role played by the BIG project in their establishment. The BDVA and the BDV cPPP will provide the necessary framework for industrial leadership, investment, and commitment of both the private and public side to build a data-driven economy across Europe.