From W3C Wiki
* Personal archiving: the most important memories of our personal lives are stored in consumer networks -- as photos, text, or videos. Having a standard format for our social data, and a standard API for getting that data in and out of the service, puts users back in control of their personal memories and lets them save that data offline or move it to another vendor's platform.
- Encouraging innovation: developers of Web and mobile applications
create new and interesting social data all the time - new kinds of sounds, videos, and data. A standard, extensible API for distributing that data to friends, family, and colleagues over a social network lets the developer concentrate on their innovative work in the client app.
- Enterprise social applications: The enterprise invests
considerable money and time into developing applications for their business. Developing to a standard API and data format protects their investment and lets them concentrate on their business needs rather than third-party requirements.
- Big Data: researchers are developing new techniques to develop
insights about people based on their social network data. But comparing data extracted from different platforms is like comparing apples and oranges. Standard data formats let data scientists and academics develop and test new theories about individuals and groups.