Data is an essential part of machine learning, artificial intelligence, big data, blockchains and predictive analytics. While not all companies and organizations have the resources to methodically collect every piece of useful information, open data becomes the solution to them.
What is Open Data
Open data is data that can be freely used, reused and redistributed by anyone for any purpose.
Open Data in Hong Kong
Hong Kong is currently ranked 24th against other places in Global Open Data Index. Some datasets such as company register, locations, land ownership, are not open yet. The Hong Kong government has announced that they are going to release 650 new datasets via the Public Sector Information (PSI) Portal (data.gov.hk) for free viewing and use by the public in 2019. The new datasets cover different areas, including data related to the economy and livelihood, real-time meteorological data, geospatial data, digital maps. All datasets on the PSI Portal are available in common and machine-readable formats such as JSON, XML and CSV to make sure they are usable. This PSI Portal offered by the government is hopefully the first move to encourage data openness in Hong Kong.
Benefits of Open Data
Open data is welcomed by the general public because it can improve the efficiency of public services and foster economic growth. By releasing PSI as open data, governments can ensure that their actions, including spending practices, are transparent. This can, in turn, help reduce waste and facilitate government accountability. It also stimulates innovations which help improve the efficiency of government services.
Innovative services and new business models can be created with the help of open data. It also benefits our economy by stimulating jobs in the technology sector. For example, developers can develop more mobile apps that help us save time in parking and avoid congestion with more accessible real-time data. The demand for data analysts will be higher since machine learning, big data, and predictive analytics become more prevalent.
It also provides benefits to consumers by creating product and pricing transparency. In addition, it allows a new medium for the consumers to provide feedback for enhancing and improving the quality of services and goods.
While machine learning, artificial intelligence, big data will be the norm in future, open data is definitely essential. If you need powerful and reliable dedicated server for big data and machine learning projects, feel free to contact our sales by phone +852 3959 1888 or email firstname.lastname@example.org.