Tim Berners Lee (the inventor of the World Wide Web) founded the open data initiative, which is why the answer is more nuanced. The Open Data Institute’s Open Definition states: “Open data is data that is freely used, reused and redistributed.” It also states that “Universal participation is required.” This means that it should not exclude areas of endeavor as well as individuals or organizations and does not impose restrictions on commercial use or restrict the intermixing of various data sets.”
Accessibility to the format is an additional factor making datasets useful. Datasets must be stored in a readable format that can be downloaded, processed and interpreted by computer programs. They can also be automatically updated whenever new data is released. Furthermore, they must be capable of being linked so that they can provide context and enable new analyses to be carried out.
The final aspect of open data initiatives that are successful is that they should be focused on the most crucial problems facing your company or government. This is a good way to begin gaining support from leaders, and will ensure that any funds invested in open data is spent on initiatives with the most likelihood of achieving positive results and generating sustainable value. This could be in the form of increasing job creation, improving sustainability by increasing transparency or community involvement.