It should also improve security, providing a common data set that gives the authorities electronic access to some 20 documents that describe who is shipping what, whence, whither and to whom.

ECONOMIST: Bureaucracy not technology

Affirmative answers to these questions can go a long way to protecting internet-enabled devices from the most common threats, which include unauthorized access to the device, compromised data and denial of service (DoS) attacks.

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The study paints a picture of a business environment in which access to information is more distributed, data analysis skills are more common, and tools to manage and analyze large sets of data are more pervasive.

FORBES: Will Big Data Actually Live Up To Its Promise?

The first five missions include creating common-sense tools for public participation, liberating government data to fuel job growth, giving everyone secure access to their own health information, streamlining the government contracting process for high-growth startups, and getting more bang for our foreign aid buck.

WHITEHOUSE: What It Means to be a Presidential Innovation Fellow