Big Data
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Big Data: Big Deal, Big Analytics
Barack Obama’s administration joined the bandwagon named Big Data on May 9th releasing an executive order on Big Data and the new Office of Management and Budget (OMB) policy of Open Data. Under the policy issued by OMB, agencies will be required to maintain an updated inventory of their data sets, provide a public listing of all public data, and ensure data are created and stored in machine-readable and open formats, whether collected electronically, by phone or on paper
Shivani Sharma: Last year, the Obama Administration had announced the National Big Data Research and Development Initiative—a major step toward addressing the challenge and opportunity of “Big Data”. White House released an executive order on Big data and the new Office of Management and Budget (OMB) policy of Open Data on May 9th, 2013. Big data refers to large datasets that are challenging to store, search, share, visualize, and analyze. At its launch, the Big Data Initiative featured more than $200 million in new commitments from six Federal departments and agencies aiming to make the most of the explosion of Big Data and the tools needed to analyze it.
Today, organizations are dealing with increasingly complex issues, dynamic changes and a systemic need for evidence based decisions across a growing range of decision makers.
Big Data thrives as long as there are enough numbers pouring in- whether it’s data from your iPhone, Facebook clicks, twitter posts, Foursquare check-ins, grocery store purchases, your online dating profile etc. The insights can be gleaned to decode some innumerable opportunities. Under the policy issued by OMB, agencies will be required to maintain an updated inventory of their data sets, provide a public listing of all public data, and ensure data are created and stored in machine-readable and open formats, whether collected electronically, by phone or on paper.
“One of the things we're doing to fuel more private sector innovation and discovery is to make vast amounts of America's data open and easy to access for the first time in history. And talented entrepreneurs are doing some pretty amazing things with it," said President Obama when the White House issued the order.
“Starting today, we're making even more government data available online, which will help launch even more new start-ups. And we're making it easier for people to find the data and use it, so that entrepreneurs can build products and services we haven't even imagined yet” he added.