Diagram 1 - Big Data

 


The three V's in big data refer to Volume, Velocity, and Variety. These characteristics describe the key aspects of big data that distinguish it from traditional data sources.

  1. Volume which refers to the massive amount of data generated every second and applies to the size and scale of a dataset. Big data is characterized by its sheer volume, often involving terabytes, petabytes, or even larger amounts of data.
  2. 'Velocity comprises the speed (represented in terms of batch, near-real-time, real-time, and streaming) of data processing, emphasizing that the speed with which the data is processed must meet the speed with which the data is produced.' 
  3. Variety refers to the different forms of data in a dataset including structured data, semi-structured data, and unstructured data. Structured data (e.g., stored in a relational database) is mostly well-organized and easily sorted, but unstructured data (e.g., text and multimedia content) is random and difficult to analyse. Semi-structured data (e.g., NoSQL databases) contains tags to separate data elements, but enforcing this structure is left to the database user.' (Hariri, R.H, et al, 2019)
By addressing the challenges posed by the three V's, organizations can unlock the opportunities offered by big data, enabling them to gain valuable insights, make data-driven decisions, and derive meaningful value from their data assets.



References:

Hariri, R.H., Fredericks, E.M. and Bowers, K.M. (2019) ‘Uncertainty in big data analytics: Survey, opportunities, and challenges’, Journal of Big Data, 6(1). doi:10.1186/s40537-019-0206-3.


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