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This article proposes that Big Data has not yet made a complete evolutionary leap, but rather that a new class of data\u2014a higher level of abstraction\u2014is needed to integrate this \u201cintelligence\u201d concept. This article examines previous definitions of Smart Data, offers a new conceptualization for smart objects (SO), examines the smart data concept, and identifies issues and challenges of understanding smart objects as a new data managed software paradigm. 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