Kroes determined to issue big data document

Tuesday 27 May 2014 00:53 CET | News

Neelie Kroes, Commissioner for the Digital agenda and Vice-President of the European Commission, wants to publish a communication on the data value chain in June 2014.

The document would contain a proposal for setting up a framework of rules on the big data market, which is rapidly developing. Big data are large sets of data stored on servers and have increased value as digitalization is gaining ground in all aspects of life, such as healthcare, but also ecommerce.

In 2013, the turnover from big data in the US was worth USD 9 billion, but it is estimated to be worth USD 24.6 billion in 2016. In Europe, growth rates are expected to be 40%.

The internal consultations on the white paper are still in progress at the European Commission. The Commission has identified a number of core issues related to this topic, such as the availability of public data, the free flow of data across the EU, interoperability issues and the balance between data protection and data use for commercial ends.

The last issue is currently debated in the European institutions as a legislative proposal on data protection reform has passed in the European Parliament, but it has not passed in the Council yet.

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Keywords: EU, Kroes, big data, document, publish, data value chain, regulations, digitalisation, legislative proposal
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce