This document summarizes an update on the Big Data to Knowledge (BD2K) initiative at the National Institutes of Health (NIH). It discusses progress made in the first year of BD2K funding in three key areas: advancing data science research through centers and targeted awards; sharing data and software through the development of indexing tools and standards; and expanding training programs. It outlines funding amounts and recipient numbers for fiscal year 2015. Future plans are outlined through 2021 with the goals of further developing tools and applications, expanding the data sharing commons, and increasing training and sustainability efforts.