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VALUE OF DATA TO THE ENTERPRISE
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This poses one of the most serious economic and national security challenges of the 21st century The cyber security threat is much more serious than the well publicized massive losses of personal data There are now recorded instances of our government and industry s electronic infrastructure being compromised by criminals, nation states, and even potential terrorists The result of such attacks could be disastrous ranging from the possible shutting down of our electrical grid to having our own military weapons turned against us On a purely economic basis, if a single large American bank were successfully attacked, it would have an order of magnitude representing a greater nancial impact on the global economy than September 11 But the threat is not just speculative Today, cyber security injuries are already substantial: some estimates now place the economic loss from known cyber thefts at more than $300 million per day [12]
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All of that is sobering to say the least When accomplished to the level that we envision, smart data and associated tagging schemas combine with credentialing and privileging procedures that should greatly increase security and reduce vulnerability, although work must continue De nition of Smart Data as Envisioned Generally, smart data is the product of engineering, such that it presents itself to the right users at the right place and time in support of planning, problem solving, decision making, sense making, and predicting It comes with methodology and algorithms that support intended uses It is interoperable and supports quali ed users with diverse needs in an ubiquitous environment It is the product of advanced data engineering technologies, including modeling and metadata management, and smart application of open standards It accounts for credentialing and privileging as a dimension of security This de nition will continue to expand as you read further To be certain, smart data is our invention, as we want to make smart data and smart data strategies more explicit to people that depend upon it The US government, on one hand, says that it wants to invest in technology that is readily available; on the other hand, it wants to make investments that are strategic Investing in smart data capability is a strategic investment that includes (1) maximizing use of available technology while (2) pushing forward initiatives like the semantic web that will yield substantial enablement of smarter data General Discussion About Data from the Information Technologist s View As an executive, you may hear the following perspective from your IT professionals Our discussion here will help you understand what they are saying
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CONTEXT: THE CASE AND PLACE FOR SMART DATA STRATEGY
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When using the term data, it can be confusing because nearly everyone has an idea about what it means to them IT guru Daniel S Appleton instructed that information data facts meaning Data comprise entities that have attributes George moved this de nition along and said that knowledge information in context Wisdom applied knowledge knowledge experience That sounded pretty good until we thought about it some more In a layperson s terms, data describes a person, place, object, event, or concept in the user environment about which the organization wishes to maintain information Surely, IT professionals will describe data as comprising entities and attributes Open Source de nes entity as a self-contained piece of data that can be referenced as a unit; you can refer to an entity by a symbolic name in the Document Type De nition (DTD) or the document An entity can be a string of characters, a symbol character (unavailable on a standard keyboard), a separate text le, or a separate graphic le [13] Attributes provide more information about data elements In computing, attributes are entities that de ne properties of objects, elements, or les Attributes usually consist of a name (or key) and value Is such a de nition compelling to a CEO or cabinet secretary It is probably not captivating because it sounds so abstract, however technically essential Some say that facts are things that can be shown to be true, to exist, or to have happened Therefore data can be a representation of facts such that humans and machines can process it The data facts require additional attributes that provide meaning and the attributes are themselves data Data are not always factual Data describing data is called metadata While writing this section we read a newspaper headline in the Washington Post: Math Error to Cost Maryland $31 million Apparently the state overpaid 17 schools for which it really didn t have the funds The mistake was said to be a computational error, made by someone using a calculator in the Department of Taxation and Assessment This is an example of dumb data, and surely not the product of smart data strategy The source erroneous: 17 school systems accepted money and intended to use it, even though the amount was more than they had budgeted Data are the equivalent of the atomic elements of information Data is the plural of datum Data are used to describe virtually anything including their representation in any medium Information technologists need to differentiate data and programs such that programs are instructions for manipulating data: they say data on its own is without meaning Discussion About Data with an Enterprise CEO and Department Secretary Euclid addressed the subject of data, associated with his work called Elements It is a complex work and King Ptolemy requested a more elementary text on geometry Euclid replied, There is no royal road to geometry We might give a similar reply to an enquiring executive about data, except to say that a data strategy map will make it easier to chart the course to higher performance
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