“Open data allows any interested party to see data collected by government, companies, etc. and find the meaningful insights waiting to be discovered”.
Open Data allows discovering interesting things, meaningful insights and create new data sets. It is data that is readable, accessible and can be used/reused and redistributed. It has to be available in any machine-readable formats, be open with minimal restrictions and free of cost. This data is non-personal and helps to recognize and forecast large-scale trends and behaviors. Organizations and governments use Open Data licenses that being well placed allow users to transform, combine and share this data for any purpose. Everybody can benefit from Open Data as it helps economies to grow, transform societies and look after the environment. It also enables transparency, which reduces corruption. This increases government's’ productivity, improves public services and helps citizens to be more involved in policy making processes. For example, in India, the government can publish data that can be used to make up irrigation policies, allocating the budget and reducing corruption. Organizations use Open Data to understand potential markets and construct, launch and suggest new products and services. It gives new opportunities, impulses technological innovation and increases economic growth. Organizations can reduce acquisition costs and redundancy as Open Data helps them to notice and entry their own data or data from other companies. Open Data gives the ability to alert governments of public data sets gaps. We can obtain Open Data sets through several sources, such as government data portals and cloud data portals.