You’ve probably heard about big data. It’s one of the biggest buzzwords in the technology industry right now. In fact, 90% of the entire world’s data was created in the last two years. Welcome to the big data explosion.
Even though big data is one of the biggest buzzwords trending in 2013, for a lot of people, this vague term is a mystery. If you’re one of those people – consider the mystery solved!
Big data is the term used to describe a voluminous amount of data. To understand the key elements in big data, just remember the three V’s:
Volume
The amount of data generated. In the past, companies generated data internally. But now employees, customers, and even machines create data. Mobile phones and electronics send a variety of information and sources of data are increasing as well as the size of data that needs to be analyzed.
Velocity
The frequency that data is generated. Data is streaming in at an unbelievable speed and needs to be dealt with in a timely manner. Many organizations are having a difficult time reacting quickly enough to deal with data velocity. By the time they have dealt with one batch, a new cycle of data has already been generated.
Variety
Data comes in a variety of formats including, audio, video, images as well as a mix of transactions, text messages, emails, blogs, tweets and more make up 90 the data.
Big Data is not just about having a large amount of data; it is providing an opportunity to find a deeper insight to the data that you already have and a better analysis of future data.
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