The National Science Foundation (NSF) has established a new “Big Data brain trust” here in the Midwest. The Midwest Big Data Innovation Hub will bring together industry, government and academia to accelerate and harness the emerging field of data analytics.
Iowa State University, my alma mater, as well as that of our CEO Shazia Manus and several other TMG leaders, will play a leading role in the new Midwest Big Data Innovation Hub. ISU is one of five universities that will lead the Midwest hub. In addition to the Midwest one, NSF has set up three other hubs across the nation.
“The Big Data Hubs program represents a unique approach to improving the impact of data science by establishing partnerships among like-minded stakeholders,” Jim Kurose, NSF’s assistant director for Computer and Information Science and Engineering, said in a press release.
Big Data hubs like this are important to the Big Data revolution for a number of reasons:
- Collaboration opens doors — Data in silos has limited benefits; these alliances are key to creating new opportunities within the world of data analytics.
- Less wasted data — A framework for data sharing/collaboration is critical, as most data is no longer relevant before the data owner has an opportunity to analyze it and take action.
- Time is of the essence — Many organizations don’t know how to act on the data they have. As we’ve seen with our financial institution partners, it can be incredibly beneficial to work with other companies that can help an organization extract value from their data in a timely manner.