Driving Innovation Harnessing large and diverse sources of data September 21 st 2010

Driving Innovation Headlines Up to £7m for collaborative R&D projects Competition opens on Sept 13 th Briefing day on Sept 23 rd Compulsory EoI deadline on Oct 21 st Full proposal deadline on Dec 16 th

Driving Innovation What is the problem/opportunity? Data volumes are growing 60% annually while the number of data sources from which this is originating is growing faster –businesses, consumers, public sector organisations, data-intensive research activities, and the proliferation of sensors This growth is outstripping the ability to store and process it Many businesses are highly data-driven using internal data to improve their offerings or to increase efficiency External data sources present huge opportunities for businesses –It is estimated that the indirect value of public data alone could be £ bn % of UK economic activity –Estimates of the potential value of other external sources of data are elusive, but they may have a similar level of untapped value

Driving Innovation Why Harnessing Large and Diverse Sources of Data

Driving Innovation Hearts and minds Not just about technology… A study of more than 1,000 businesses found that: –68% of enterprises would not be prepared to allow customers and partners to access their data –Despite 82% claiming that they support online open data initiatives instigated by governments How can organisations participate in a data economy?

Driving Innovation Spirit of the competition To stimulate collaborative research and development that will lead to new technologies and strategies to help businesses extract greater value from large and diverse sources of data (or information), and which drive a robust data economy To demonstrate these new capabilities embedded in one or more businesses In/across any sector Projects to address either or both of two topics…

Driving Innovation Topic 1: Harnessing diverse data sources For example (but not limited to): –ways to model and assess the value of data to a business and for supporting the case for discarding or maintaining data for future use –novel approaches to integrating internal and external data sources –new business models for sharing data across organisations

Driving Innovation Topic 2: Making sense of ‘big data’ For example (but not limited to): –ways to maximise knowledge extraction from ‘big data’ –new or enhanced algorithms that can significantly speed up data analysis with little or no loss of accuracy –novel visualisation technologies that put complex and ‘big data’ into the right form so that it can easily be understood or explored by one or more decision-makers

Driving Innovation Spirit of the competition Should move well beyond simply combining data from several sources into a single view or application Should clearly state the specific business and technological challenges faced and the benefits of overcoming them for the market concerned Should illustrate the potential for significant direct benefits to a number of the partners involved in at least one commercial setting

Driving Innovation Rules In all cases: –obtaining data should take up no more than 10% of the project costs or time. Ideally, the data should already be available to the consortium –standards development should require no more than 10% of project costs or time. The focus should be on providing a business case for setting standards outside of the project –projects should result in a demonstration of the end result embedded within one or more businesses in the consortium

Driving Innovation Knowledge Transfer Networks (KTNs) Aerospace and Defence Biosciences Chemistry Innovation Creative Industries Digital Communications Digital Systems Electronics, Sensors and Photonics Energy Generation and Supply Environmental Sustainability Financial Services HealthTech and Medicines Industrial Mathematics Materials Modern Built Environment Nanotechnology Transport

Driving Innovation More information and online networking Harnessing Data group: diverse-sources-of-datahttps://ktn.innovateuk.org/web/harnessing-large-and- diverse-sources-of-data Seminar at Innovate10 on October 12 th

Driving Innovation Dr Zoë Webster Lead Technologist (ICT)