The talk of the V's: Three Dimensions of Big Data explained.

What is Big Data?

A large and complex amount of data is collected by businesses these days. The data collected is so expansive that traditional data processing software cannot manage them. However, these enormous volumes of data can be utilized to address business problems or issues that businesses couldn’t even tackle before. A large part of values that companies offers, comes for the data they collect which constantly helps them to analyse and produce and develop new products

The Three dimensions of Big Data:

1.     Volume: It refers to the large amount of data that is processed every second from different sources such social media, websites, credit cards etc. The benefit gained from processing such substantial amount of data is the main attraction of big data analytics. The vast amounts of data have become so huge that it is nearly impossible to store or to analyze them using traditional data collecting techniques. Collecting such huge amount of data has become a challenge for companies, as modern data collecting techniques and software’s are required to analyze and process such data.

2.     Velocity:  The importance of data velocity is the rate at which the data is flowing in an organization. Every day the number of clicks, number of emails, messages, pictures etc that are sent through websites or mobile applications should be instantaneously processed and analyzed so as to allow the organization to make quick decisions as well as to think about how this data can be implemented to give rise to futuristic discoveries. It’s not just about input data that matters, it is also about the velocity at which systems generate outputs too.

3.     Variety: It’s not just about contact information or addresses it is much more than that. The variety of information that is collected from the user these days has totally changed as it was being collected in the past. More than 80% data that is collected is unstructured. New and innovative technology is being implemented to analyze such structured and unstructured data. 

References:
1. Volume, Velocity, Variety: What You Need to Know About Big Data

By O'Reilly Media Container: Forbes Year: 2012 URL: https://www.forbes.com/sites/oreillymedia/2012/01/19/volume-velocity-variety-what-you-need-to-know-about-big-data/#2f11e2ff1b6d

What Is Big Data? | Oracle Ireland

By  Container: Oracle.com Year: 2014 URL: https://www.oracle.com/ie/big-data/guide/what-is-big-data.html