Open data can be used, reused and distributed. The United Kingdom Open-Data Institute designates Open-Data companies, as those that use, generate and invest in Open-Data as a fundamental tool in their work.
As we know, all online activity generates large volumes of information about our needs and preferences. This information is called Big-Data. When these reports are open and public, they are known as Open- Data. It is important to differentiate between these two concepts. Big-Data is the storage and processing of large amounts of information. For it to be considered Open-Data, it must be available to reuse and to connect it through links with other databases.
Open-Data can be used, reused and distributed by other companies to generate new commercial approaches and to make digital marketing decisions. The United Kingdom Open-Data Institute designates Open-Data companies, as those that use, generate and invest in Open-Data as a fundamental tool in their work.
Open-Data companies use this information to identify new business opportunities to develop new merchandising models, or generate new products or services. Examples of information generated by Open-Data are geospatial data (location data), and transportation data such as real time traffic or environmental information. These, when applied to each companies’ strategies, create advantages to help them compete with other companies in their field.