Scribd
Upload
100 views

The Three Vs of Big Data

Big data refers to large, complex datasets that traditional data processing software cannot efficiently handle. It is characterized by 3 Vs - volume, velocity, and variety. Volume refers to the large amount of data, velocity is the speed at which the data is generated and processed, and variety means the diverse types of data. Big data can provide value by enabling more complete answers and insights through analyzing trends and patterns across massive amounts of structured and unstructured data from various sources. Key steps to leverage big data involve integrating diverse data sources, managing the large datasets, and performing advanced analytics.

Uploaded by

Ali Asad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
100 views

The Three Vs of Big Data

Big data refers to large, complex datasets that traditional data processing software cannot efficiently handle. It is characterized by 3 Vs - volume, velocity, and variety. Volume refers to the large amount of data, velocity is the speed at which the data is generated and processed, and variety means the diverse types of data. Big data can provide value by enabling more complete answers and insights through analyzing trends and patterns across massive amounts of structured and unstructured data from various sources. Key steps to leverage big data involve integrating diverse data sources, managing the large datasets, and performing advanced analytics.

Uploaded by

Ali Asad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

Big Data

To really understand big data, it’s helpful to have some historical background. Here’s
Gartner’s definition, circa 2001 (which is still the go-to definition): Big data is data that
contains greater variety arriving in increasing volumes and with ever-higher velocity.
This is known as the three Vs.

Put simply, big data is larger, more complex data sets, especially from new data
sources. These data sets are so voluminous that traditional data processing software
just can’t manage them. But these massive volumes of data can be used to address
business problems you wouldn’t have been able to tackle before.

The Three Vs of Big Data


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 Twitter data
feeds, clickstreams on a webpage 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.

The Value of Big Data


Two more Vs have emerged over the past few years: value and veracity.
Data has intrinsic value. But it’s of no use until that value is discovered. Equally
important: How truthful is your data—and how much can you rely on it?
Today, big data has become capital. Think of some of the world’s biggest tech
companies. A large part of the value they offer comes from their data, which they’re
constantly analyzing to produce more efficiency and develop new products.

Recent technological breakthroughs have exponentially reduced the cost of data


storage and compute, making it easier and less expensive to store more data than ever
before. With an increased volume of big data now cheaper and more accessible, you
can make more accurate and precise business decisions.

Finding value in 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.

Benefits of Big Data and Data Analytics:


 Big data makes it possible for you to gain more complete answers because you
have more information.
 More complete answers mean more confidence in the data—which means a
completely different approach to tackling problems.
Big Data Use Cases
Big data can help you address a range of business activities, from customer experience
to analytics. Here are just a few. (More use cases can be found at Oracle Big Data
Solutions.)
Product Development 
Companies like Netflix and Procter & Gamble use big data to anticipate customer
demand. They build predictive models for new products and services by classifying key
attributes of past and current products or services and modeling the relationship
between those attributes and the commercial success of the offerings. In addition, P&G
uses data and analytics from focus groups, social media, test markets, and early store
rollouts to plan, produce, and launch new products.
Predictive Maintenance 
Factors that can predict mechanical failures may be deeply buried in structured data,
such as the equipment year, make, and model of a machine, as well as in unstructured
data that covers millions of log entries, sensor data, error messages, and engine
temperature. By analyzing these indications of potential issues before the problems
happen, organizations can deploy maintenance more cost effectively and maximize
parts and equipment uptime.
Customer Experience 
The race for customers is on. A clearer view of customer experience is more possible
now than ever before. Big data enables you to gather data from social media, web
visits, call logs, and other data sources to improve the interaction experience and
maximize the value delivered. Start delivering personalized offers, reduce customer
churn, and handle issues proactively.
Fraud and Compliance 
When it comes to security, it’s not just a few rogue hackers; you’re up against entire
expert teams. Security landscapes and compliance requirements are constantly
evolving. Big data helps you identify patterns in data that indicate fraud and aggregate
large volumes of information to make regulatory reporting much faster.
Machine Learning 
Machine learning is a hot topic right now. And data—specifically big data—is one of the
reasons why. We are now able to teach machines instead of program them. The
availability of big data to train machine-learning models makes that happen.
Operational Efficiency 
Operational efficiency may not always make the news, but it’s an area in which big data
is having the most impact. With big data, you can analyze and assess production,
customer feedback and returns, and other factors to reduce outages and anticipate
future demands. Big data can also be used to improve decision-making in line with
current market demand.
Drive Innovation 
Big data can help you innovate by studying interdependencies between humans,
institutions, entities, and process and then determining new ways to use those insights.
Use data insights to improve decisions about financial and planning considerations.
Examine trends and what customers want to deliver new products and services.
Implement dynamic pricing. There are endless possibilities.

How Big Data Works


Big data gives you new insights that open up new opportunities and business models.
Getting started involves three key actions:

Integrate

Big data brings together data from many disparate sources and applications. Traditional
data integration mechanisms, such as ETL (extract, transform, and load) generally
aren’t up to the task. It requires new strategies and technologies to analyze big data
sets at terabyte, or even petabyte, scale.

During integration, you need to bring in the data, process it, and make sure it’s
formatted and available in a form that your business analysts can get started with.

Manage

Big data requires storage. Your storage solution can be in the cloud, on premises, or
both. You can store your data in any form you want and bring your desired processing
requirements and necessary process engines to those data sets on an on-demand
basis. Many people choose their storage solution according to where their data is
currently residing. The cloud is gradually gaining popularity because it supports your
current compute requirements and enables you to spin up resources as needed.
Analyze

Your investment in big data pays off when you analyze and act on your data. Get new
clarity with a visual analysis of your varied data sets. Explore the data further to make
new discoveries. Share your findings with others. Build data models with machine
learning and artificial intelligence. Put your data to work.

You might also like