The amount of available data in different domains and companies has been increasing steadily. Recent studies expect a yearly revenue growth of 33.5%. The Austrian market volume of EUR 22 million in 2013 is predicted to reach EUR 73 million in 2017. Due to this enormous growth of available data new challenges emerge in efficiently creating value. On the one hand, these data are frequently complex and unstructured in a wide variety of formats and require time-sensitive computation. On the other hand, it is essential to ensure trustworthiness in data and inferred knowledge. These challenges are commonly known as the four V: Volume, Velocity, Variety -> Value. This study analyses the extraordinary, innovative potential of Big Data technologies for the Austrian market ranging from managing the data deluge to semantic and cognitive systems. Moreover, the study identifies emerging opportunities arising from the utilization of publicly available data, such as Open Government Data, and company internal data by covering multiple domains. A holistic approach comprising research principles, development of new methods/tools/technologies, requirements, the implementation in innovative products by industry and especially Austrian SMEs, and knowledge transfer at tertiary education establishments served to achieve these objectives.