The Elements of Big Data Value

New Open Access Book on the Foundations for Big Data Innovation

How can Europe leverage the potential of Big Data? How can data be used to create value for society and the economy? Which technologies are promising? What political and economic measures are needed? Answers to these and other question are provided by “The Elements of Big Data Value”.

The book results from the private-public partnership “Big Data Value” (BDV PPP) between the Big Data Value Association (BDVA) and the European Commission. Over 60 research and innovation projects were funded under the BDV PPP. Numerous working gropus and conferences brought together stakeholders from politics, industry and research and contributed to building a vibrant “Big Data Value” community. The book presents the key findings of these activities and projects.

Inspired by chemistry, the book summarizes the findings into elements and classifies them into a “Big Data Value” period system. From the editor’s perspective, these elements are necessary to create value from data. The elements are explained clearly in four book parts, the main groups of the periodic table, using best practices and concrete recommendations for action.

The first part describes a holistic approach to building a thriving ecosystem in which society and business can create value from data. The second part shows the technical challenges that need to be overcome and the skills needed in companies to benefit from Big Data. It identifies technological priorities for research that should be better understood and developed in the coming years. The third part addresses the economic, political, and social aspects needed for business and society to recognize and benefit from the added value of data. The fourth part addresses emerging elements in the “Big Data Value” ecosystem. Here, the focus is on the opportunities and challenges of artificial intelligence and the creation of a common European data space.

As with the early days of the chemical periodic table, the editors see the “Big Data Value” periodic table as open to new elements. Dr. Andreas Metzger from Prof. Dr. Klaus Pohl’s paluno working group is one of the editors. He is deputy secretary general at Big Data Value Association (BDVA) and was chairman of the BDV PPP technical committee. In the Big Data Value eCosystem project, he and his team were responsible, among other things, for networking the project partners and establishing a European Big Data Value Education Hub.

Free access to the book under: https://link.springer.com/book/10.1007%2F978-3-030-68176-0

A hardcover edition is also available in stores.

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Birgit Kremer
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