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It is predicted that by 2020 approximately 50 billion connected devices will be in use globally, creating 44 trillion gigabytes of data every year. Huge data sets known as Big Data are now used in various segments of the economy, from the consumer market and advertising to the oil and gas industry and the financial sector. The proliferation of Big Data technology requires special regulations to ensure that users are protected and businesses can pursue opportunities amid tighter global competition.
Big Data are the fuel of the new digital economy, as defined in the European Commission’s Horizon 2020 programme.
Big Data technology is broadly used by companies worldwide to reduce costs and increase business efficiency in a wide variety of areas:
Big Data are among the nine focus areas of the Digital Economy of the Russian Federation programme running until 2025.
The rapid growth of Big Data requires special regulations to govern data sharing, also with foreign partners, and the level of its protection.