Gartner: Big Data & Open Data will generate billions in business

The rise of big data—a broad term that encompasses the mountain of information flowing into businesses—has posed particular challenges for organizations of all sizes, and investments in big data infrastructure and management is projected to drive $28 billion of worldwide IT spending in 2012, according to an Oct. 17 research report from IT analytics firm Gartner. That figure is expected to rise to $34 billion by 2013, according to the report, with 10 percent of new spending each year influenced by big data in some way.

Despite the importance big data holds for businesses, an August report from Gartner indicated open data—the concept that certain data should be freely available to everyone to use and republish as they wish, without restrictions from copyright, patents or other forms of control—could prove to be even more critical. Access to, and use of, open data will be particularly important for businesses operating partly or completely on the Web. The report recommended organizations should focus on using open data to enhance business practices that generate growth and innovation.