Many industry sectors are focused nowadays on exploiting vast amounts of data which are becoming increasingly available to create competitive advantages putting a lot of attention on the big data term. The big data concept is not characterized only by high data volume (petabytes or exabytes of data) which is difficult to handle with traditional data management tools, but also by features such as velocity and variety. We often need to process data streams and do real-time analysis. Furthermore the data comes from different modalities (audio, video, text, and other complex data) which need to be integrated to extract meaningful conclusions. The data is frequently unstructured making search and its use very challenging. Finally, security and privacy issues play a very important role. In this talk, we clarify the big data term and bring it in relation to data analytics and semantic reasoning technologies. Then we discuss what big data analytics can mean for both research and business, and how it can be used to create meaningful innovation.