Big data is very important, and is going to be very valuable. Big data is often referred to as the “new oil” or the “Oil of the internet age”. And this is potentially a very valuable analogy. And yet it is precisely this “new oil” analogy and slides such as this one that concern civic activists.
Open Data is a new buzz word; the world is coming up with policies, frameworks, and strategies around successful implementation of Open Data. There have been many reasons cited in numerous reports behind this new dynamic movement pointing out that many research organisations are dedicated to explore Open Data. The most prominent reason that data is the new resource of the knowledge economy. Data is seen as the raw material that will drive this economy. That is why it is sometimes called the new gold or oil of the future.