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Part of the 2013 IEEE International Conference on Big Data
In the famous article “What is Web 2.0″, Tim O’Reilly said that “data is the next Intel Inside”. However, creating value from Big Data cannot be accomplished by merely aggregating large amounts of data or performing analysis. Rather, the real value of Big Data resides in the composition of data products (or, more conventionally, applications). Leveraging the value of Big Data through data products and building a new data economy by creating a market where data products can be traded, exchanged and composed is key in the Big data era.
Big Data economy is about developing a value-centric view of the whole data lifecycle including collection, fusion, search, analysis, application development and consumption. This means, for example, that pricing the data should be interrelated to their potential for supporting the creation of valuable products, which is affected by factors such as their quality and history of usage. Furthermore, this creates the need for research on proper data supply chain and product composition models.
This one-day workshop aims to identify these key research topics and create a community that will contribute to establishing a data economy to assess and generate value from Big Data throughout its whole lifecycle.
Research topics included in the workshop
1. Business models on Big Data applications
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