Mobile Meetings Series: Data driven innovation: Practical applications for big data in the mobile economy
Analysts estimate 50 billion devices to be connected to the Internet by 2020. The exponential growth in the Internet of things will also bring with it an explosion of data, a trend that is usually referred to as Big Data. The intelligent economy produces a constant stream of data that is being monitored and analyzed. The International Data Corporation estimates that in 2011, the amount of information created and replicated surpassed 1.8ZB (1.6 trillion gigabytes).
Almost every business can improve its products and services by analyzing existing data in new ways and mobile has a key role to play for enabling large data capture to drive innovation. For example, through mobile and the Internet of Things, businesses can now monitor energy use to improve distribution allowing for tailored rates, more accurate bills, and increased efficiency. Additionally, data collected on consumer and patient behaviour can support doctors to improve health care system organization. Likewise, large data sets can support transport system management through in-vehicle services connected to the Internet of Things.
In the context of ongoing discussions on completing the digital single market, this Mobile Meeting Series breakfast will focus on:
- How can policy makers support the development of mobile-derived Big Data services, in particular by encouraging the sharing of data between various companies for better access to data?
- How can policy maker ensure that this data sharing – that can potentially create a lot of value – develops in a secure, trusted environment respecting privacy rights?
- What are the key policy barriers to leveraging data driven innovation in the EU across sectors?