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OpenDataMonitor
Horizon 2020
Coordination and Support Action
GARRI-3-2014 Scientific Information in the Digital Age: Text and Data Mining (TDM)
Project number: 665940
TDM – Economic Opportunity
FutureTDM
Reducing Barriers and Increasing Uptake of Text and Data Mining for Research Environments
using a Collaborative Knowledge and Open Information Approach
Jan Strycharz
13th June 2017
TDM & Big Data
2FutureTDM
Value is KEY
3
The Meaning of Value
4
5
Translating data…
Under-
standing
Selecting
Prepro-
cessing
Transfor-
mation
Choosing the
method
Exploring
Discovering
patterns
Interpreting
…into action
TDM Process
Types of Data Analyzed #1
6
Types of Data #2
7
What for?
8
How Much - Market
9
Europe 2016 2021
Big Data 9.4 B USD 29.4 B USD
TDM 2.5 B USD 10.3 B USD
World 2016 2019
Big Data 26 B USD 48 B USD
TDM 7 B USD 17 B USD
How Much – Economic Impact
10
11
Value
12
1:5
1:11
How much – Economic Impact
13
Obstacles
14
Organizational Culture – Data Savvy
15
People challenge
16
EDUCATING – THANK YOU!

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The economic potential of data analytics