OCTOBER 2014 / NO. 2

TAGS: SYSTEMS, BIG DATA, OPEN DATA, DECISION-MAKING, MI7, UNSTRUCTURED, INFORMATION, PATTERN-RECOGNITION, LIQUID INFORMATION, SEMANTICS

Most systems are down and we still accept it

“Now it is time for new ideas because all systems are down: government, hospitals, housing corporations, energy-, insurance-, telecom companies and banks have a serious lack of new ideas and energy. It’s all about money and earning money and no longer about why those institutions were ever even founded”, Terts Brinkhoff

How can these systems-based organizations survive, when inspiration, passion, enthusiasm, motivation have faded away a long time ago? These organizations now jump on ‘big data’, however, although big data can gradually improve our abilities as we work with it, it does not grant instant omniscience, and is not an automatic cornucopia or substitute for insight. We have a much more crucial phenomenon available to us these days, ‘open data’. The volume of open data, machine-readable information, encompasses huge volumes of unstructured information which cannot be handled by mankind. According to McKinsey, open data is in its early days, but has, however, significant economic value. Unlocking this volume of information could create an estimated annual economic value of between US$ 3 – 5 trillion, not billion!

‘Open data’ breaks down information gaps across industries which enables organizations to propel innovation, improve new products, uncover anomalies, and replace traditional and intuitive decision-making with decision-making driven by intelligence. It is the essence of creating future perspectives beyond simply the facts.

The world’s leading consultancy firm states that this phenomenon is in its early stage. Some of our clients, however, already work with such an ‘open-data killer’, MI7, with killer-apps in the management of unstructured information such, as early pattern-recognition, connecting liquid information and semantic analysis.

“An amazing number of people offer an amazing amount of value over networks. But the lion’s share of wealth now flows to those who aggregate and route those offerings, rather than those who provide raw materials”, Jaron Lanier

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