Transforming Big Data into Smart Data: Deriving value via harnessing Volume, Variety, and Velocity using semantic techniques and technologies

Big Data has captured a lot of interest in industry, with anticipation of better decisions, efficient organizations, and many new jobs. Much of the emphasis is on the challenges of the four V´s of Big Data: Volume, Variety, Velocity, and Veracity, and technologies that handle volume, including storage and computational techniques to support analysis (Hadoop, NoSQL, MapReduce, etc). However, the most important feature of Big Data, the raison d´etre, is none of these 4 V´s — but value. In this talk, I will forward the concept of Smart Data that is realized by extracting value from a variety of data, and how Smart Data for growing variety (e.g., social, sensor/IoT, health care) of Big Data enable a much larger class of applications that can benefit not just large companies but each individual. This requires organized ways to harness and overcome the four V-challenges. In particular, we will need to utilize metadata, employ semantics and intelligent processing, and go beyond traditional reliance on ML and NLP.