Since the 1990s, the term Big Data has come into the picture and has been mentioned by many people. Big data has developed rapidly and is impacting our lives more and more deeply and increasing day by day. The concept of big data is not new anymore, and it has been frequently mentioned in the 1990s. But the concept of big data has become a hot topic again in recent years. Big data has a lot of technologies and different directions, so different people can have different perspectives. For example, massive data calculations, difficult and complex data analysis, etc., these may be characteristics of big data.
According the many analysts Big data requires a new processing mode in order to have a strong decision- making , insight and process optimization capabilities to achieve a massive high growth rate
This concept expressed a very important meaning. Big data has now become an information asset for the world which is much valuable to achieve great results in business, security and many other aspects . In the era of big data, we need new processing models to process these information assets. Because the original processing mode cannot deal with these data within the required time or accuracy requirements.
McKinsey summarized the four characteristics of Big data with massive data scale, fast data flow, diverse data types, and low-value density. That is what we usually call the 4V characteristic of big data. Later on IBM added the fifth characteristic, and thus formed the definition of big data, which is the 5V characteristics of big data that is relatively common in the industry. Let’s take a look at what is called 5V characteristics one by one.
1. Volume: Volume is a huge amount of data.
2. Velocity:Velocity refers to the high speed of accumulation of data.
3. Variety:It refers to the nature of data that is structured, semi-structured and unstructured data.
4. Veracity: It refers to inconsistencies and uncertainty in data, that is data which is available can sometimes get messy and quality and accuracy are difficult to control.
5. Value: After having the 4 V’s into account there comes one more V which stands for Value!. The bulk of Data having no Value is of no good to the company, unless you turn it into something useful.
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