Big data
The knowledge extracted from big data is in itself an economic asset; a factor of production alongside labour, capital, and technology. Making use of vast quantities of data opens up enormous economic opportunities ranging from smoothing the way we do every day practices to creating completely new products, services, organisational methods, and ways of delivering public services. Because the knowledge that comes out from big data impacts nearly every part of the economy, we at the Big Innovation Centre describe big data as a new general purpose technology.
The action group brings together a collection of the UK’s leading companies, universities and policy makers, to work together on projects that can exploit the potential of data. By reaching across traditional boundaries between organisations, it promotes cross-learning and identifies challenges that apply to everyone who uses data. Topics explored by the group include the technical capabilities and skills required to make use of data, and issues around regulation, security and privacy.
"Governments around the globe hold vast stocks of data whose insights are crucial for both public bodies and businesses. Public bodies can use these insights to design smarter services and deliver them more effectively. Business can use these insights to boost innovation and create growth and jobs. A key question for Ministers and officials alike, in every country, is whether we are getting the very best value from that data. Are there ways we can make it work better? By unleashing Big Data, can we grow existing businesses to encourage innovative business models? In finding the right approach in liberating this data we must find ways of respecting the privacy of the citizens and businesses while unleashing the economic potential of data. This novel approach creates opportunities and benefits for all."
- Viscount Younger of Leckie
Parliamentary Under-secretary of State for Intellectual Property, in the our Big Data Leaflet
Related Reports
How should the government approach the big data challenge?
The Big Innovation Centre's contribution to the Shakespeare Review, commissioned by the Data Strategy Board for the Department for Business, Innovation and Skills
Sonia Sousa
12 February 2013
Data is the next frontier, Analytics the new tool
This article identifies five trends in big data and advanced analytics, and suggests what they might hold for innovation and competitive advantage. It also suggests organisations that have historically invested heavily in technology and technological solutions for the purpose of managing and analysing data must not lose sight of at least six other key organisational considerations.
David Wong
02 November 2012
The Big Digital Dilemma: How should we pay for the web?
The internet has given rise to a hugely innovative digital economy, however, many businesses have found it hard to generate revenue from it. This paper explores the options available to content providers in the digital economy.
Andrew Sissons
13 September 2011
Related Events
Big Data Action Group Meeting
The 4th meeting of the Big Data Action Group
Thursday, 23 May 2013
10:00 - 13:30
Big Data: A lot to explore but little to share?
A panel session discussing Big Data, followed by a drinks reception. This event is part of the Big Data Week.
Thursday, 25 April 2013
16:00 - 19:00
Camden Hack Day
Day-long event at Google Campus during which participants would work together in providing data solutions for Camden Council.
Friday, 10 May 2013
09:00 - 18:00