Big Data – Volume, Variety and Velocity!
Posted by Anahita | Posted in Business Intelligence | Posted on 05-12-2011
Tags: Big Data, Business Intelligence
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For so many years many companies were concerned with the data they didn’t have. The main worry was how to collect the required data. Many applications and systems were developed to give organisations the required entity for gathering the data.
With collection of data growing in many systems and applications, the companies then faced other challenges, such as how to make sense of the data they had and turn them to actionable insights. Data Services and Integrations along with Business Analytic and Performance Management Tools then came to rescue.
In the last two years, companies started to realise the volume, variety and velocity of data growth. In fact 90% of the data in the word today has been created in the last two years!
Volume: These days an enterprise will have a petabytes (1 million gigabytes) of information and it is growing. This is Big data!
Variety: Big data is not just the data stored in relational databases. It includes unstructured data in all documents, audio, video, live web data such as in wikia, blogs, tweets, facebook, etc.
Velocity: The speed in which Big data is produced, makes it absolutely necessary to be analysed for insight as near as it happens, i.e. near live. There is no time to wait for later analysis.
Business Analytic and Intelligence is growing into Big Data space as we speak.