With the exponentially increasing use of the internet, huge petabytes of data is being created and stored every second in almost all streams, owing to which the Big Data technology has become the need of the hour. In fact, with so much information present in an adhoc manner, analyzing them and utilizing them to create newer and improved business strategies and processes seems a retarding task. But thanks to the advent of Big Data that it is changing the way the world handled this piling amount of data.
Through proper data capturing, handling, analyzing, visualizing, querying, sharing and storing, the Big Data has enabled businesses to achieve greater accuracy that aids in better decision making and creating business plans with more intelligent approach. Tohave better understanding of what Big Data is all about, here are the basic Vs-of this advanced technology as reiterated by a pioneering Big Data training firm called COSO IT:-
Veracity means the messed up form of data that cannot be fully trusted.With data having infinite forms, the important aspects of quality and accuracycannot be found with efficiency. However, the Big Data technology helps us workwith less reliable data such as abbreviations, typos, hashtags, etc., and evenput them through analytics to retrieve vital statistics.
Collecting data dependent on language processing often leads toconstant change in the meaning of data, making it highly variable. Social mediaupdates for example, may imply a positive appealing statement in a sarcasticway, thus changing the whole meaning of the data. While words have properdefinition, but their meaning in different usage may sound different. This iswhere Big Data helps in decoding the context of the message to convey a summarisedmeaning, which otherwise would have remained a challenge.
Velocity implies the unbeatable speed at which data is generatedevery second and moves around on the internet. The speedy monetary transactionstaking place online, the viral news being circulated in the social media sitesor the constantly fickle changes in the trading business, every activity isgenerating huge amounts of data. However, through the super fast analysingspeed of the Big Data, data analysis and interpretation in this process ofgeneration without transferring it into database is now possible.
A few years ago, companies had access only to structured data thatfits into tables and graphs, while analysing multiple kinds of unstructureddata was not a possibility. However, since most of the data today isunstructured in the form of photos, videos, social media activities, tradingactivities, online buying behaviour, etc., business firms can now access andanalyse such variety of data with the help of Big Data technology.
Volume refers to the large amount of data generated every second through simple internet usage such as e-mails, social media activities,shopping online, etc. In comparison to few years back, the amount of data produced and shared has increased stupendously and is multi-fold times more than the handling capacity of the traditional database technology. With the help of distributed systems of Big Data technology, storing and using these data sets in an organised manner is done efficiently.
While these are the major characteristics of Big Data, there are two other aspects called visualization and value that are gaining their space too.The processed data should be presented in a readable and accessible manner so that through various variables and parameters, they can be visualized. Big Data is massive and rapidly expanding its outreach and its true value lies in rigorous analysis of data, which helps in generating great value to the financial health of any business.
Having incorporated the best of Big Data technology, COSO IT hasmade thorough research and analysis over the years to become a renowned name inBig Data training.