Big Data is the alpha and omega of our information society. Data, ok! But what does the “Big” hide?
Generally, Big Data is defined by the 3 V – volume, velocity and variety. With the advent of social networks, the production of data has increased exponentially.
Volume
Volume is the first characteristic associated with Big Data. It is easy to equal “big” with volume. The largest volume of real-time data is produced by streaming. Currently, it accounts for 80% of all Big Data data. Steaming data is unstructured and thus difficult to process. It needs a data lake technique to store and process.
Variety
Variety of the data too is a new challenge for businesses. It goes hand in hand with Big Data. Our various modern technologies produce data in extremely varied formats. Think of smart objects with their real-time sensors, audio and video files, RFID chips, and so on.
Velocity
The last variable of Big Data is speed. The data is produced in real-time and stored in real-time. In addition, data processing and analysis methods have become increasingly fast.
This speed of analytics can only be achieved by powerful methods, meaning algorithms. Big Data and algorithms are like Siamese twins. These mathematical formulas make it possible to plow billions of data in a snap, thus identifying patterns and tendencies. From the start, Facebook or Amazon have been using highly sophisticated algorithms to target users, with contextual ads or cross-selling initiatives.
Big Data is a disruptive phenomenon that has paved the way for artificial intelligence.