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Big Data, Big Deal

What is Big Data? What does the term mean?
Artiklen fortsætter under billedet
2020-08-14
Erhvervsakademi Dania
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Simplified, "big data" refers to massive amounts of data very fast, too complex and almost impossible to be analyzed and processed with our traditional methods. This concept has started 20 years ago when the analyst Doug Laney articulated the definition of big data as the three V’s.

 

Volume

The data is obviously used by organizations and they collect the data from a variety of sources such as social media, audios, business and personal transactions, smartphones & devices, equipment, and many more. What is more, with the nowadays technology is not difficult to store all these enormous information anymore.

Velocity

The main and most important stream is, of course, the internet. And with its growth, the speed of data layers and new types of information increases overtime every single day.

 

Variety

As mentioned before, data comes in different formats and shapes through different channels. The types vary from documents, texts financial transactions, emails, audios, videos to numerical data in traditional databases to stock ticker data.

 

But as time passes by, extraordinary change comes in. In our lives, in our jobs, in our relationships and society. We adapt to fit in these changes. Creating all over again new patterns to be observed by organizations who try the chances to make their ways into our lives, banks, pockets, and very personal life. How great or destructive is this for us? You can only start to imagine…

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