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What Is Big Data00

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33 views5 pages

What Is Big Data00

Uploaded by

hekalbasel43
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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What Is Big Data?

Big Data Defined

Big data refers to extremely large and complex data sets that
cannot be easily managed or analyzed with traditional data
processing tools, particularly spreadsheets. Big data includes
structured data, like an inventory database or list of financial
transactions; unstructured data, such as social posts or videos;
and mixed data sets, like those used to train large language
models for AI. These data sets might include anything from the
works of Shakespeare to a company’s budget spreadsheets for
the last 10 years.

Big data has only gotten bigger as recent technological


breakthroughs have significantly reduced the cost of storage
and compute, making it easier and less expensive to store more
data than ever before. With that increased volume, companies
can make more accurate and precise business decisions with
their data. But achieving full value from big data isn’t only
about analyzing it—which is a whole other benefit. It’s an entire
discovery process that requires insightful analysts, business
users, and executives who ask the right questions, recognize
patterns, make informed assumptions, and predict behavior.

What are the Five Factor of Big Data?


Traditionally, we’ve recognized big data by three characteristics:
variety, volume, and velocity, also known as the “three Vs.”
However, two additional Vs have emerged over the past few
years: value and veracity.
Those additions make sense because today, data has become
capital. Think of some of the world’s biggest tech companies.
Many of the products they offer are based on their data, which
they’re constantly analyzing to produce more efficiency and
develop new initiatives. Success depends on all five Vs.

Volume. The amount of data matters. With big data, you’ll have
to process high volumes of low-density, unstructured data. This
can be data of unknown value, such as X (formerly Twitter) data
feeds, clickstreams on a web page or a mobile app, or sensor-
enabled equipment. For some organizations, this might be tens
of terabytes of data. For others, it may be hundreds of
petabytes.
Velocity. Velocity is the fast rate at which data is received and
(perhaps) acted on. Normally, the highest velocity of data
streams directly into memory versus being written to disk.
Some internet-enabled smart products operate in real time or
near real time and will require real-time evaluation and action.
Variety. Variety refers to the many types of data that are
available. Traditional data types were structured and fit neatly
in a relational database. With the rise of big data, data comes in
new unstructured data types. Unstructured and semistructured
data types, such as text, audio, and video, require additional
preprocessing to derive meaning and support metadata.
Veracity. How truthful is your data—and how much can you rely
on it? The idea of veracity in data is tied to other functional
concepts, such as data quality and data integrity. Ultimately,
these all overlap and steward the organization to a data
repository that delivers high-quality, accurate, and reliable data
to power insights and decisions.
Value. Data has intrinsic value in business. But it’s of no use
until that value is discovered. Because big data assembles both
breadth and depth of insights, somewhere within all of that
information lies insights that can benefit your organization. This
value can be internal, such as operational processes that might
be optimized, or external, such as customer profile suggestions
that can maximize engagement.

Big data benefits


Continuous intelligence
Big data allows you to integrate automated, real-time data
streaming with advanced data analytics to continuously collect
data, find new insights, and discover new opportunities for
growth and value.
More efficient operations
Using big data analytics tools and capabilities allows you to
process data faster and generate insights that can help you
determine areas where you can reduce costs, save time, and
increase your overall efficiency.
Improved risk management
Analyzing vast amounts of data helps companies evaluate risk
better—making it easier to identify and monitor all potential
threats and report insights that lead to more robust control and
mitigation strategies.

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