Smart Data: The intelligent and inexhaustible source of information.
In the wake of the digital revolution, smart data has become the most valuable resource. The amount of data being collected is increasing exponentially and therefore becoming ever more complex. The extent and the significance of the exponential data increase have been analyzed in surveys by Siemens and IBM. Siemens forecasts a 50-fold growth of data over the next ten years and concludes that the digital universe will consist of 40 zettabytes of data by 2020 (a zettabyte has 21 zeros). The IBM Institute for Business Value investigated over 1’000 experts from a variety of sectors and found that two thirds of the people said that the analysis of data provides their companies with a competitive edge. The significance of data and its effective analysis is thus increasing at a rapidly increasing rate.
Importantly, in order to conduct compelling analyses and to draw significant conclusions, big data is not enough. The mass of data needs to be converted into smart data. While big data provides an immense repository of information, it is not suitable to deliver answers in itself. The mass of data needs to be structured semantically. Put differently, the data needs to become more intelligent.
JANZZ.technology has built and developed its products based on this principle; the complex ontology of occupation related data JANZZon! is structured semantically across multiple languages, which means that all the data stored in the knowledge base is connected logically. This provides a significant added value as not only humans but also machines can read the information stored in JANZZon!. Hence the occupation and skills data is directly usable for analyses in a variety of areas. The knowledge base can be accessed through the JANZZrestAPI by anyone who does not only want to accumulate data but use it in a smart way.