Increasing the transparency of data will help to increase efficiency, it has been claimed by an expert.
Speaking at the London Computational KnowledgeSummit, Conrand Wolfram, co-founder and strategic director of Wolfram Research, claimed that information needed to be open and usable if it was to be effectively utlilized.
The expert noted that, while data was being released into the public domain, it was often done so in a raw, unexplainable form.
"Now, the biggest single users of government data are governments, so if you can make data easier to access you can increase efficiency," he explained.
"When I think about what's often termed 'the knowledge economy', it appears to me that on some level a large fraction of the population are generating wealth through the creation and application of knowledge."
The comments come just after a recent survey, conducted by Forbes and SAP, found that ineffective data quality and information-related problems were costing some businesses in excess of $20 million each year.
Posted by Rachel Wheeler