According to a new McKinsey report, the availability of Open Data in the Public Sector will unlock as much as $2 trillion dollars in economic value – annually.
No one knows exactly how the future open data world will look, or who will reap the economic rewards, but one thing’s for sure, with 90,000 open data sets already available on the United States’ Data.gov, the sky’s the limit. Public entities, private companies, and citizens should all benefit from the open data movement. (more…)
Bill Teuber is Vice Chairman of EMC Corporation. He was appointed to the position in 2006 and focuses on strategy and business development in emerging markets, assists with government relations and works closely with the Board of Directors. He is based at EMC’s corporate headquarters in Hopkinton, Massachusetts, United States.
Today in Davos, EMC hosted a conversation with New York Times Columnist Tom Friedman and MIT’s Andrew McAfee and Erik Brynjolfsson, who have a new book out called, The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. If the first machine age was about the automation of manual labor and horsepower, the second machine age is about the automation of knowledge work, thanks to the proliferation of real time, predictive data analytics, machine learning and the Internet of Things – an estimated 200 billion devices connected to the Internet by 2020, all of them generating unimaginable quantities of data.
Two young financial analysts make good money in the hedge fund business and decide to give a chunk of it away to some worthy humanitarian cause. The only problem: How to give effectively?
When Elie Hassenfeld, now of the San Francisco-based nonprofit GiveWell, faced that dilemma a decade ago, he and his fellow Ivy League grad Holden Karnofsky were frustrated by the paucity of data on charitable effectiveness in the public domain. So they started cold calling charities from the trading floor, asking questions that charities are not used to answering.
I was asked a couple of weeks ago to present to a group on Big Data. The target audience was C-level executives in the SME (Small and Medium-sized Enterprise) arena. Now in Ireland, this is a very different scale than that of the U.S. or larger European countries. Maximum size here for SME would be 250 employees; however, Ireland is the EU headquarters for the majority of the top 10 global tech companies. It’s important for these organisations to understand that Big Data is not restricted to large enterprises only, and they should not feel intimidated by the challenge that lies ahead.
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