Throughout Europe, more and more Open Data is available for re-use. A number of studies have raised expectations with regards to the financial benefits of Open Data, however very little is known about how companies transform data into value. With a better understanding of the re-use of Open Data, both data providers and re-users could instigate a virtuous circle to leverage Open Data further. To support the transformation of Open Data into value, the European Data Portal explores the re-use of Open Data.
Following studies on the economic benefits of Open Data and the maturity of Open Data policies in European Member States, the European Data Portal explores the transformation of Open Data into value at the organisational level. To do so, the study has collected and analysed data on Open Data re-use from close to 200 organisations throughout Europe. By getting to know these organisations, both the diversity in Open Data re-use became apparent but also which challenges Open Data organisations face.
To exemplify this diversity, the study showcases a number of companies using Open Data in a unique way. This ranges from Normative which makes sustainability reports to eVineyard which helps with the management of vineyards to Wripl Technologies which streamlines online content. Three very diverse examples that all transform Open Data into value. With Open Data being a free resource, success of these companies depends on the value they create via the transformation of the data. This starts with identifying the information that can be leveraged within Open Data, how this can help solve a business challenge and how this can be turned into a product or service.
Before a company can be successful in creating value, getting the right type of Open Data is an equally important success factor. It is key to obtain relevant Open Data of a high quality which is consistent over time and in format. This heterogeneity proved to be the most recurrent challenge for Open Data organisations.