The big data value opportunity

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.