Interconnecting data, a new revolution of Information Society? Linked Open Data (LOD) is an approach to connect and openly publish related data that was not previously linked and was not previously openly available.
The Web enables us to link related documents and related data. According to the site linkeddata.org, the term Linked Data refers to a set of best practices for publishing and connecting structured data on the Web. The “Linked Open Data” are published under an open license. Examples of such data are spatio-temporal, scientific, business and government data.
A short and clear explanation about what is LOD and why it is useful to you:
A deeper insight on LOD: