The main objectives of the project are to develop the following deliverables, which also serve as the basis for assessing success of the project: (1) common contextual model forpattern recognition, (2) common contextual model for trend forecasting, (3) system prototype to demonstrate the feasibility of the proposed approach in domain-specific environments. The proposed project addresses fundamental challenges of business intelligence on data generated both within organization and in widersociety. Analysis of existing work has shown that the proposed project presents a unique and innovative approach on the world level and builds on lessons from EU/FP7 projects in which both applicants and collaborating partners from EU have participated. For the purpose of development, verification and validation of the proposed model we will leverage the computer cloud at the UL FRI Cloud Computing Centre.