The 3 characteristics of Big Data you need to know aboutadmin
Big data can provide answers and open doors. However, for those who are still perplexed, we’ve broken it down for you.
There are three characteristics that can be used to break down the phrase. The three Vs, or volume, velocity, and variety, are crucial to comprehending how we can assess big data and how different it is from traditional data.
We’ll start with the most obvious one. The term “big data” refers to a large amount of information. In fact, data volumes can reach previously unimaginable heights. According to estimates, 2.5 quintillion bytes of data are being created every day, resulting in 40 zettabytes of data being created by 2020 – a 300-fold increase from 2005. As a result, huge corporations today routinely store Terabytes – and even Petabytes – of data on storage devices and servers. This information aids in the shaping of a company’s future and actions, as well as the tracking of progress.
The importance of data has transformed the way we think about it as a result of its expansion. We used to dismiss the value of data in the workplace, but as our methods of gathering it have evolved, we’ve come to rely on it on a daily basis. The term “velocity” refers to the rate at which data is received. Some data will arrive in real-time, while others will arrive in fits and starts, and will be given to us in batches. And, because not all platforms will process data at the same rate, it’s critical not to generalize, discount, or draw conclusions before gathering all of the facts and figures.
Once upon a time, data was collected in one location and provided in one manner. It used to be published in database files like Excel, CSV, and Access, but today it’s being presented in non-traditional ways including video, text, pdf, and graphics on social media, as well as through hardware like wearable devices. Although this data is highly beneficial to us, it adds to our workload and necessitates greater analytical abilities to comprehend it, organize it, and make it function.
Big Data is more than just “a lot of data.” It’s a means of giving business operatives new and existing data to work with, as well as new ways of acquiring future data to make a significant difference and make the company more flexible.
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