
How Europe Plans to Profit from Big Data Resources
To become a global leader in big data, Europe needs to take swift action and enhance control over its data resources.
By
CIO Applications Europe | Tuesday, January 21, 2020

To become a global leader in big data, Europe needs to take swift action and enhance control over its data resources.
FREMONT, CA: The modern business ecosystem is significantly data-driven. In such a scenario, it is compelling for companies to cease control over big data resources. Having access to big data can be a big competitive advantage for any business organization. In Europe, the quest for data ownership started long back with foreign companies setting shops. However, Europe has realized the importance of obtaining control over its data resources. For one, data ownership gives rise to security concerns. Apart from that, big data can be monetized to earn a lot of profits. Thus, Europe is now making efforts to prevent big data resources from flowing into the hands of competitive companies from outside and also to leverage big data for revenues. Two major ways in which Europe plans to wrest control over big data for the benefit of local companies are discussed below.
Evolving Regulatory Frameworks
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
Europe has created some of the most comprehensive laws related to data usage and privacy. These regulations are binding on all the business organizations operating in the region. By invoking legislations, Europe has made efforts towards regulating the flow of data. Apart from giving individuals more control over their data, the regulations have introduced curbs on the accumulation and use of data. In the long run, these measures are expected to give Europe more power over its big data resources. The data sovereignty that these regulations ensure will empower European companies to gain profits from the regulated sale of data to outsiders.
Enhancing Technology-related Skills
Apart from regulations, Europe can better its prospects in big data by improving expertise. Currently, Europe does not have a sufficient number of experts who can help European companies with big data technology. New courses in data science are essential to forming the talent pool, which can drive the big data industry forward. Along with that, the existing workforce also needs to upgrade its skills.
With these strategies, Europe can expect to secure big data resources to drive up profits and compete with other global leaders.
More in News
Weekly Brief
I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from CIO Applications Europe
THANK YOU FOR SUBSCRIBING


