How Big Data Now Matters

You may have heard the term big data. Out there, there are different definitions of big data. Big data is data about many things that are collected in large volumes and fast speeds. From this understanding comes the 3V law that is often associated with Big Data, namely: Variety, Volumes (volume or amount), and Velocity (speed). But what exactly is big data and how does it relate to our daily lives?

What is Big Data?

Big data is a larger and more complex collection of data, especially from new data sources. This data set is so large that traditional data processing software cannot manage it. However, this large amount of data can be used to solve business problems that you previously could not handle. One of the easiest explanations for big data is the collection and use of information from various sources to make better decisions. Big data can be regarded as a concept of our ability to collect, analyze, and understand a large amount of data that comes every day.

• Data size is indeed important. As the name implies, you need to process a data volume large enough for big data.

• Velocity here is a very fast speed at which data is received and (possibly) directly used. Usually, the highest speed of data flows directly to memory compared to that written to disk. Some smart devices that use the internet operate in real-time or near real-time and will require real-time evaluation and action.

• Variety in question here is the various types of data available. Traditional data types are usually more structured. With the development of big data, there is also unstructured data. Unstructured or semi-structured data such as text, audio, and video take time to process so you can know the meaning of these data.

In addition to the three Vs above, there are two other Vs also often mentioned: Value (value) and Veracity (honesty).

Data certainly has a value, but it is of no use until the value is found. Equally important: how true (veracity) your data is – and how much can you rely on it? Nowadays, big data is considered as capital. Think of some of the biggest technology companies in the world. Most of the value they offer comes from their data, which they constantly analyze to offer better services and develop new products and features. With an increase in the volume of big data now cheaper and more accessible, you can make business decisions that are more accurate and precise.