In reality, Big Data is so big and from so many different sources and complex data sets, that it has become virtually impossible to process via traditional data processing software. Value: Intrinsic value that can be discovered in data.Veracity: The truthfulness of data and its reliability.
In recent years, there are two more Vs that have emerged as important components of Big Data:
This is also referred to as the three Vs: In essence, it is “high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation.”īig Data is data, but in a monumental volume, of magnificent variety, and produced at exceedingly high velocity. Nowadays, Big Data is so important that it is now considered capital or an economic asset since a great deal of value is derived from the data that is generated on a daily basis from customer behavior, human interactions, sentiment, business activity, sensors, and much more.īack in the early stages of Big Data, Gartner defined the concept, and his definition is still considered the go-to definition. No longer a buzzword and more of a wholly ingrained concept in our daily lives, Big Data is here to stay, grow, and evolve.
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