Big data the word itself is scary. Big data, however, is the same data which was always used and referred to, but now it is gaining more impetus and importance. It is powerful, and it provides insights as well as value to the business. This big data is powerful, but it is controllable. It provides value and insight to the business.
Big data is defined in various ways. It is a collection of data from various digital and traditional sources from inside as well as outside the company. Using this data, various kinds of analysis, as well as discoveries, are made.
Big data is a mixture of data. The main categorizations are that the data is multi structured and unstructured. The unstructured data sources are not easily interpreted using data models or traditional databases. This consists of social media posts, tweets, etc. and this is gaining a lot of importance and growing.
There is multi-structured data which has different types and formats of the data based on the interactions of people as well as machines. This has visual images as well as text and also transactional information.
When speaking of big data the main factors to be considered are volume or the amount of the data that there is, the velocity or the speed at which this data is generated and flows, the variety or the various kinds of data, the veracity or accuracy of the data and the value of the data or how important it is.
Big data is used in a variety of fashions, to resolve problems, to improve engagement with customers and other such reasons. However, it is important in order not to be left behind by the competition and to emerge as a world leader that this big data should be embraced and used as a very efficient and effective tool.
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