Big Data

“Data is the new oil”, “Data is the new asset”, “Data is the new electricity” are some of the terms that we are hearing in the last few years. Nowadays, huge amount of digital data is generated everywhere in every instance, maybe in a financial organizations, health sectors, sales companies, research institutes, manufacturing industries, navigation companies, social media etc. The generated data can be of different types and categories, the data can be variable or static(such as meta data) and most importantly the amount of generated data is growing day by day. We know that every data contains information and can create value if we have proper techniques to analyse them and use them for our benefits. “BIG DATA”, thus deals with following four factors, also popularly referred as “four Vs” :

  • Huge VOLUME of data,
  • VARIETY of data,
  • VELOCITY of data,
  • Create VALUE from data