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Syllabus E. Technology And Data Analytics E2. Big Data And Data Analytics

E2b. Big data - The 3 V's

Big Data

is an emerging technology that has implications across all business departments.

It involves the collection and analysis of a large amount of data to find trends, understand customer needs and help organisations to focus resources more effectively.

The 3 V's

Big data has a role to play in information management

Gartner’s 3Vs definition of "Big Data":

  1. Volume

    You have more volume of data now

    For example, data captured from social media.

  2. Velocity

    You have quicker data (You can get data much quicker)

  3. Variety

    Modern data takes many different forms.

    Structured data may take the form of numerical data whereas unstructured data may be in the format of email or video.