Unleashing Power of Data

18 | Unleashing Power of Data [ THE EVOLUTION OF BIG DATA ] THE CHARACTERISTICS OF BIG DATA Big data is a collection of data from many different sources and is often described by five characteristics: Volume: Volume is the size and amount of big data that is collected, managed, and analyzed by businesses. Big data is generated in huge vo l umes f r om bus i nes s processes, machines, social media platforms, networks, human interactions, amongst others. Big data volume is greater than the volume of processed data in a normal system of an enterpr i se, resulting in a newly-designed system. Velocity: Velocity is the speed at which data is generated and processed, so that companies can process data seamlessly for quick & timely. Enterprise business models depend on IoT data, resulting in the increasing speed of data generation. The pace at which data flows from sources such application logs, corporate processes, networks, social media websites, sensors, and mobile devices is referred to as big data velocity. Hence, big data analytics landscapes ought to receive and quickly manage this fast-generated data, thereby executing data computations with data movements in an efficient manner. Variety: Big Data can be structured, unstructured, semi - s t r uc t u r ed , qua s i - structured that are collected from different sources. The data that was not logged and overridden before can be stored in big data scenarios. There are new data sources that generate enormous volumes of data, hence big data systems allow users to combine the data to make sense of it. Veracity: Veracity refers to the uncertainty and non- reliability of data, and the need to ensure data accuracy, quality, and integrity. Veracity is the process of being able to handleandmanageprocessed data efficiently from different systems. Big data systems require concepts, methods, and platforms to overcome the veracity challenge. Value: Value is the reliable and valuable data that businesses store, process, and analyze. I t i s the most impor tant characteristic of big data as insights and knowledge are derived from the data. Dun & Bradstreet