BiG DATA
Jinformatics
Feb 2023
practices
1.WHAT
IS BIG
DATA ?
2.WHAT ARE
THE 5V’s OF
BIG DATA ?
3.WHY IT IS
IMPORTANT
?
By: Balaraman
BiG DATA?
a huge volume of data or collection of
large and Big data is complex datasets
which are beyond the ability to manage with
traditional software systems.
These data can be unstructured and semi-
structured data such as text files, video and
audio files etc.
Big data can be used to improve
operations, provide better customer service
and create personalized marketing
campaigns -- all of which increase value.
As an example, big data can provide
companies with valuable insights into their
customers that can then be used to refine
marketing techniques to increase customer
engagement and Conversion rates.
What is big
2
data ?
BiG DATA Feb2023
5V’s of BiG DATA
Characteristics of Big
Data
BiG DATA Feb 2023
Volum Your Main
Story Title
e
Volume is one of the
characteristics of big data. Data
that is being generated on a daily
basis from various sources like
social media platforms, business
processes, machines, networks,
human interactions, etc. Such a
large amount of data is stored in
data warehouses.
4 v1
BiG DATA Feb 2023
Velocity
Velocity essentially refers to the
speed at which data is being created
in real time. In a broader sense, it
comprises the rate of change, linking
of incoming data sets at varying
speeds and activity bursts.
5 v2
BiG Feb 2023
DATA
6
Variety
Variety of big data refers to
structured, unstructured and
semi-structured data that is
gathered from multiple sources.
While in the past, data could only
5
be collected from spreadsheets
and databases, today data comes
in an array of forms such as
emails, PDFs, photos, videos,
audios, SM posts, so on and so
forth. Variety is one of the
important characteristics Insert
of big
or Drag &
data.
6 a
BiG Feb 2023
DATA
7
Veracity:
Big data can sometimes be
inconsistent , biased and
noisy or there can be
abnormality in the data or
5
issues with the data
collection methods.
Veracity refers to the
trustworthiness of the data
because processing such
incorrect data can giveInsert or Drag &
wrong results or mislead
interpretations.
6 a
BiG DATA Feb 2023
Value:
Big data is not only just a big pile of
data but it also possesses hidden
patterns and useful knowledge
which can be of high business value.
But as big data processing involves
investment of resources, we should
make a preliminary enquiry to see
the potential of big data in terms of
value recovery, else our efforts
could go in vain. Big data value
refers to the usefulness of gathered
data for your business. Data by
itself, regardless of its volume,
usually isn't very useful — to be
valuable, it needs to be converted
into insights or information, and that
is where data processing steps in.
BiG Feb 2023
Why it
DATA
matters ?
The importance of big data doesn’t simply revolve around
how much data you have. The value lies in how you use it.
By taking data from any source and analyzing it, you can
find answers that streamline resource management,
improve operational efficiencies, optimize product
development, drive new revenue and growth opportunities
and enable smart decision making. When you combine big
data with high-performance analytics, you can accomplish
business-related
5 tasks such as:
Determining root causes of failures, issues and defects in
near-real time.
Spotting anomalies faster and more accurately than the
human eye.
Improving patient outcomes by rapidly converting medical
image data into insights.
Recalculating entire risk portfolios in minutes.
Sharpening deep learning models' ability to accurately
classify and react to changing variables.
Detecting fraudulent behavior before it affects your
organization.
6 a
