Big and Open Data is a new, fast-moving field with tremendous potential for creating better fulfillment of citizen’s needs and inclusion into society, making it an important area for digital youth innovation. It requires innovative solutions to collecting, analysing and using increasingly complex and large data sets and managing all the issues such as privacy. Our high-level speakers from the field will present their vision and viewpoints in this workshop at the European Youth Event and discuss interactively with the audience.
- Ralf Peter Schaefer, Head of Traffic Product Unit, TomTom
- Kumardev Chatterjee, Founder & President, EYIF
- Jan Reichelt, Co-Founder & President, Mendeley
Moderator: Jana Vecerkova, EYIF
What will they discuss?
What does “Big data” stand for?
The main features surely concern volume, velocity and variety of this data. More than 70% of the data is generated by individuals, and herein lies the opportunity for enterprises: to access this data, combine it with the enterprises’ data and analyze it all for new insights. Every day we are generating data. From a video posted on YouTube to credit card purchases, from the emails sent to tweets posted. All these actions need to be multiplied by billions of people, without even considering the data generated by sensors or satellites in space.
Personalization overcomes privacy
With the coming of the“cookies”era, we got familiar with the fact that our actions around the internet influence the adverts that we see on websites and the suggested items we receive on Ebay or Amazon. In this regards, there have been problems in the past, since some websites have taken advantage of customers. But as more companies hammer in big data techniques, more customers will cooperate, on the premise that they will take benefits from it, through, for instance, vouchers sent for goods that they are likely to buy, creating a win-win situation for both parties.
Even though many analysts agree that businesses will start hiring data scientists at a certain point, this could hardly turn into reality. Due to a shortfall of dedicated data scientists, companies prefer to retrain existing staff rather then investing in full-time data scientists to analyse and explain their data. For the future, companies will push more and more on entering the big data-as-a-service space. Companies could then sign in for storing, analysing, explaining and visualising data to more compact services, which focus on transferring data to cloud-based servers to allow an easier data questioning in the future.
Read about European Youth Event and other EYIF sessions here.