Open Data brings more chances of Growth and Opportunities Data that is released by large scale companies and government department and freely available to everyone to use and republish as they wish, without restrictions or control us called open data. The term “open data” itself is recent, gaining popularity with the rise of the Internet and World Wide Web and, especially, with the launch of open-data government initiatives. The ultimate purpose behind the release of open data is to open the new door of success. Open data can be freely used, re-used and redistributed by anyone based on the needs and requirements. Open data have great advantages for all those who are exploring for news opportunities and strengths. It can be the base of strong development in both public and private sectors. It is promising source of new business in the form of new products, services and innovative solutions. High importance is noted also in fostering citizens' participation in political and social life and increasing the transparency of public authorities. It is has great worth, because it can be used to develop the applications and tools – billions of dollars in worth. Open data can serve businesses, scientists, researchers and entrepreneurs, student and professionals, as well as development authorities in order to bring more value in their activities. Let’s take a look what Open Data have for businesses, scientists, researchers, entrepreneurs, government, students and professionals! You know that well formed and timely decision can be a base of business success. Data analytics empowers the business decisions. Entities or business can make more intelligent and effective moves by performing Data Analytics on Open Data. They can get more clear idea on market potential, industry performance, budgets, market trends, business innovations, service delivery improvements and many more. For scientists and researchers, you know the data is the base of any research. They can get huge amount of data from open data portals related to every field of life and can use it to support their research work. As regards the entrepreneurs, open data has great potential for them. Governments are releasing new data sets which can be used to develop new products and improve services if this data is explored and analyze with authenticated open data tools. For students and professionals, open data also come with great potential and opportunities. Students and professionals could explore and analyze Open Data and extract trends and business intelligence results which could benefit them in their research or professional work. So, open data is very useful for them. For governments, Open Data can bring new resources and opportunities. Governments and public sector departments are utilizing Open Data for improving citizen engagements, efficiency, service delivery, performance, transparency, development and innovations. By properly utilizing open data different bugs in society can be eliminated, new resources can be explored, living standard can be improved and several other social and economic benefits can be attained. Eventually, all the sectors and departments can be improved by properly utilizing the Open Data.
Benefits and opportunities of Open Data not limited up to these fields or department. I am sure, in the near future, open data will be a game changer because now at the time our technology sector is emphasizing to explore and analyze Open Data more deeply. New tools and applications are being developed to assist those who are seeking potential in Open Data to bring more innovation and development for the benefit of the general public.