Adopting Open Data strategies in your organization
Posted 4 Weeks ago
“Data is the new gold”. This famous and often repeated phrase is today more apposite than ever before.
Leading public organizations and enterprises drive their choices based on data. The ability to take educated decisions is nowadays a crucial success factor for any entrepreneur, manager, or subject matter expert in a leading role. It is necessary to pave a secure way towards the future. Determining the right rulings means survival.
Although data are more and more recorded and stored, it is not obvious that they are accessible and interpretable for any purposes. This is where data sciences techniques and open data approaches come into play. Collecting, analyzing and deriving a useful meaning from the available information is a key expertise to be built up. Looking at internal data silos is of course important and can already be challenging for organizations but crossing internally available material with those available in public domain is high-class.
But was does it mean “Open Data”? And what are the benefits of adopting such an approach? Is this yet another kind of fancy IT buzzword?
No, it is not. In the last 10 years, concepts like “Big Data” have been introduced. Usually it brings into mind quantitative exercises like the application of algorithms and analytics. Those are critical as they allow to gain insights into company’s operations, they show what really happens under the hood and allow to reveal things that were invisible before. Big Data became a hot topic for all industries, as uncovering strengths and problems and driving the measures thereof often became performance criteria. Early adopters of Big Data technologies are often today’s industry leaders. We’ve been proud to accompany them over the years.
The demarcation line between “Big” and “Open Data” is the nature of data accessibility. Easier access to data has become crucial in a lot of industries. Concretely, Open Data means shared data. If companies want to advance in transparency and integrity, it is the new hot topic.
Data sharing is necessary to let others gain insights into your perception and knowledge, it allows you to feed your supplier and partner ecosystem and pushes you forward together. The biggest potentials are unveiled once reciprocity exists, hence once you gain fast insights into the value chain. It’s quite simple, a human principle – “give me yours and I’ll give you mine”. That’s where success is created implicitly, for all companies, and at the end of the day, for the consumer in his daily life.
The benefits of Open Data of course depend on the industry you are playing in and on your organizations’ degree of maturity in terms of analytics. Getting foreign data streams without having built the capability to analyze them is no use. Mastering Big Data is thus a precondition for Open Data.
From a mere technical perspective, data sharing is often accomplished through the so-called application programming interfaces (API’s), the technical contract that enables the data flow between systems. Technically spoken, API’s are by far not new. Loosely coupled applications have been developed for years. Embedding them into an open data concept, means making them public, bringing them actively into the market.
ABAKUS IT-SOLUTIONS provides business and technological answers when it comes to Open Data. Our analysts and developers are ready to design Open Data concepts for your company and to accompany you in the implementation. We bring your existing data management capabilities to the next level. Book your appointment with experienced data management experts now. Let’s get ready to join the high-class!