BIG DATA : EUROPE LOOKS TO CATCH UP.

The Netherlands, with more than half its population living below sea level, pays close attention to the North Sea coast. It also dedicates an important financial sum - 7 billion - to manage the sophisticated network of dykes, canals, locks and dams throughout the country. With the cost expected to increase in the years to come, and climate change effects looming over its future, the country launched the Digital Delta research project. The goal is to integrate information that will enable authorities to anticipate disasters and reduce the financial burden of managing water by up to 15%. This four-month-old project represents the latest example of how big data - the use of vast amounts of information for the economic and public good - could change the lives of Europeans.

As in the case of the Netherlands, European governments and companies are getting serious about exploiting the full potential of big data. France's new industrial strategy includes big data as a key element. The UK launched a programme last October, entitled Seizing the data opportunity', "to exploit data for the benefit of citizens, business, and academia". The last European Council agreed that Europe should boost digital, data-driven innovation across all sectors of the economy as part of its growth strategy.

Public officials, the private sector and experts agree that the use of data, which doubles every three years, will be essential for economic development. According to a McKinsey report, a retailer using big data could increase its operating margin by 60%, and personal location data could generate 485 billion in consumer surplus. The direct impact of open data on the EU economy was estimated at 32 billion in 2010, with a...