• Blog
  • Informational

Linked Data Innovation – A Key To Foster Business Growth

November 7, 2016 5 mins. read Milena Yankova

Data is the new oil

‘Data is the new oil’, once said Neelie Kroes, former Vice-President of the European Commission responsible for the Digital Agenda. Thus, he aptly described how the growing amounts of data were changing business and life in general. The year was 2012.

By that time, many companies had already started drilling for the ‘new oil’. Some had not only found it but had been also refining it in order to create useful links to other domains and take advantage of Linked Data integration and innovation.

Why Linked Open Data?

As interlinked services and flexible data integration enhance customer experience, businesses have been increasingly using Linked Open Data (LOD) to boost efficiency and save resources. Share on XThe global drive to increase interconnectedness has led to the creation of many linked datasets. Some of them have even become an integral part of how various companies are doing their business today.

Here’s our take on several popular free, machine-readable, open and linked datasets and how companies have been benefiting from them.

Linked Open Data Sets

Linked General Knowledge

DBpedia

DBpedia is a crowd-sourced community effort to extract structured information from Wikipedia and make it available on the Web. The English version of the DBpedia knowledge base contains descriptions of 4.58 million things including people, places, creative works, organizations, species and diseases.

Today, DBpedia is one of the first sources of LOD that companies look at. For example, the BBC uses it for its Dynamic Semantic Publishing, mastering the art of integrating Linked Open Data to provide interlinked and highly relevant content.

MusicBrainz

The BBC is also using and contributing to the MusicBrainz dataset, which collects music metadata and makes it available to the public.

But it’s not only the BBC. A lot of large companies, as well as start-ups, benefit from it, too. Universal Music makes use of MusicBrainz metadata to enrich its own metadata. Google applies it in its Knowledge Graph. And it also feeds Amazon’s music offers as well as Spotify’s streaming service.

Wikidata

Wikidata is another free and very popular knowledge base. With 20 million+ data items, it serves as a central storage for the structured data of its Wikimedia sister projects including Wikipedia, Wikivoyage and Wikisource.

Wikidata

Wikidata is another free and very popular knowledge base. With 20 million+ data items, it serves as a central storage for the structured data of its Wikimedia sister projects including Wikipedia, Wikivoyage and Wikisource.

Culture Beat

Wikidata also collaborates in collecting and keeping track of cultural heritage objects by describing these materials with structured information. One of its partners is the Europeana project aimed at making Europe’s rich heritage easier for people to use for work, learning or just fun.

Across the Atlantic, the digital humanities heritage is supported by the Digital Public Library of America whose Metadata Application Profile is based on the Europeana Data Model. This is an area of humanities naturally prone to interlinking due to its global impact and interest. Thus, Linked Open Data only makes it easier to build more and more links following agreed-upon standards.

Also, the Digital Public Library of America is a partner in the Open EBooks initiative, part of the White House’s ConnectED Initiative.

But not only governments use and support the LOD movement. The global scientific, technical and medical publisher Springer is using it to enrich its own metadata and link it to other available data in the LOD cloud.

Why Linked OpenData

Geography Matters

The LOD cloud also features GeoNames, which contains 11 million place names available for download free of charge. GeoNames serves as a free resource to the world’s geography of media organizations such as the early adopter, the BBC, as well as The New York Times, the Norwegian Broadcasting Corp and the Guardian.

And as maps have a natural use of place names, Bing Maps, Multimap and OpenStreetMap are also using GeoNames, among other sources.

Healthcare & Life Sciences Links

Finally, in the pharmaceutical, healthcare and life sciences domain, we have the example of the US National Library of Medicine, which has published the Medical Subject Headings as Linked Data.

In the specific scientific field of healthcare and life sciences, a common understanding of the data is a must. One such collection is the SNOMED terminology resource, which is used by pharmaceutical companies, including AstraZeneca, to help integrate and link data from various sources and gain deeper insights.

As you can see, a variety of industries and cultural projects are leveraging the power of Linked Data in our increasingly interconnected world. Being freely available and machine-readable, Linked Open Data enriches organizations’ proprietary knowledge and helps them discover hidden connections.

By unleashing the power of Linked Open Data, these organizations will ultimately stay ahead of competitors, increasing customer engagement and loyalty, and raising their return on investments.

 

          New call-to-action

Article's content

A bright lady with a PhD in Computer Science, Milena's path started in the role of a developer, passed through project and quickly led her to product management. For her a constant source of miracles is how technology supports and alters our behaviour, engagement and social connections.

Linked Data Solutions for Empowering Analytics in Fintech

Read about how FinTech can use the power of Linked Data to put data into context and expose various links between these concepts.

Semantic Technology: Creating Smarter Content for Publishers

Learn how semantic technology helps publishers create better content publishing workflows and improved content consumption for readers.

The 5 Key Drivers Of Why Graph Databases Are Gaining Popularity

Read about the 5 key characteristics of graph databases – speed, meaning, answers, relationships, and transformation.

GraphDB Migration Service: The 10-Step Pathway from Data to Insights

Welcome to our GraphDB Migration Service that helps you prepare for migrating your data to GraphDB, walks you through the setup and monitors performance.

Fighting Fake News: Ontotext’s Role in EU-Funded Pheme Project

Read about the EU-funded project PHEME aiming to create a computational framework for automatic discovery and verification of information at scale and fast.

Semantic Technology: The Future of Independent Investment Research

Learn how independent research firms use cutting-edge technologies to add value to research pieces and monetize the content they offer.

Top 5 Semantic Technology Trends to Look for in 2017

Read about the top 5 trends in which Semantic Technology enables enterprises to make sense of their data and fine-tune their offerings to customers.

Ontotext’s 2016: Our Top 7 Webinars Of The Year

Data shows that in 2016 we had a total of 22 webinars that attracted over 7 000 people – here are the 7 best webinars!

Ontotext’s 2016: What Did You Liked The Most On The Blog

Nearly 10 000 people read our blog in 2016 and the following 5 posts gathered most interest.

Linked Data in Regtech: Boosting Compliance and Performance

Learn how regulatory technology, coupled with semantic technology, can help enterprises and financial institutions reduce exposure to risk.

How Data Integration Joined the Music Hit Charts

Learn how today it is the Internet, data integration, and tailored recommendations that stage the music scene for the new Bob Dylans.

Open Data Innovation? Open Your Data And See It Happen

Learn how open data trend-setting governments and local authorities are opening up data sets and actively encouraging innovation.

Linked Data Innovation – A Key To Foster Business Growth

Learn how freely available and machine-readable Linked Open Data enriches organizations’ data and helps them discover new links and insights.

Linked Data Approach to Smart Insurance Analytics

Read about how Linked Data and semantic technology can enrich data and pave the way to advanced analytics.

Linked Data Paths To A Smart Tourism Journey

Read about how the tourism industry can benefit from Linked Data and big data analytics for wiser investments and higher profits.

Linked Data Pathways To Wisdom

Learn about the linked data pathways to wisdom through ‘who’, ‘what’, ‘when’, ‘where’, ‘why’, ‘how to’ and, finally, ‘what is best’.

Taking Semantic Web to its Next Level with Cognitive Computing

Learn about the new age of cognitive computing and integrating its concepts into two decades of semantic web growth.

Open Data Play in Sports Journalism And EURO 2016

Read about how open data gives those modern-day Sherlocks the bases of their stories.

Open Data Sources for Empowering Smart Analytics

Learn how Open Data and how more businesses use data analytics to gain insights, predict trends and make data-driven decisions.

Journalism in the Age of Open Data

Learn how governments and authorities can start relying more on journalism to promote the use of open data and its social and economic value.

Building Linked Data Bridges To Fish In Data Lakes

Learn how enterprises can build bridges to extracting more powerful and more relevant insights from their Big Data analytics.

Open Data Use Cases In Five Cities

Learn how London, Chicago, New York, Amsterdam and Sofia deal with open data and extract social and business value from databases.

ODI Summit Take Out: Open Data To Be Considered Infrastructure

Learn about The ODI’s second Summit with prominent speakers such as Sir Tim Berners-Lee, Martha Lane Fox and Sir Nigel Shadbolt.

Highlights from the “Mining Electronic Health Records for Insights” Webinar

Read some of the Q&As from our webinar “Mining Electronic Health Records for Insights”.

Highlights from ISWC 2015 – Day Three

The 14th International SemanticWeb Conference started three days ago and Ontotext has been its most prominent sponsor for 13 years in a row.

Highlights from ISWC 2015 – Day Two

The 14th International SemanticWeb Conference started three days ago and Ontotext has been its most prominent sponsor for 13 years in a row.

Overcoming the Next Hurdle in the Digital Healthcare Revolution: EHR Semantic Interoperability

Learn how NLP techniques can process large volumes of clinical text while automatically encoding clinical information in a structured form.

Highlights from ISWC 2015 – Day One

The 14th International SemanticWeb Conference started three days ago and Ontotext has been its most prominent sponsor for 13 years in a row.

Text Mining to Triplestores – The Full Semantic Circle

Read about the unique blend of technology offered by Ontotext – coupling text mining and RDF triplestores.

Text Mining & Graph Databases – Two Technologies that Work Well Together

Learn how connecting text mining to a graph database like GraphDB can help you improve your decision making.

Semantic Publishing – Relevant Recommendations Create a Unique User Experience

Learn how semantic publishing can personalize user experience by delivering contextual content based on NLP, search history, user profiles and semantically enriched data.

Why are graph databases hot? Because they tell a story…

Learn how graph databases like GraphDB allow you to connect the dots and to tell a story.