Big Data can be classified through its 3 main characteristics. The 3 characteristics of big data are volume, variety, and velocity). To these, three more can be added: viability, visualization, and value.
These 3V of the Big Data are distributed along three general layers of a data project. Storage: Hardware and software resources that allow the storage of data. Processing: Data processing tools. Analysis: Methodology followed to perform the analysis of the data that derive invaluable information.
Characteristics of big data
The Big Data is known as the procedure of management and analysis of huge volumes of data, which due to their procurement characteristics cannot be treated in a conventional manner since they exceed the limits and capabilities of the software tools commonly used for the capture, management and data processing. This mechanism was born with the objective of converting data into information that facilitates decision-making, including having the possibility of having information in real time, at the precise moment in which it is collected.
Currently, Big Data is being treated as a business opportunity, that is, it is a means to understand the profile, needs and feelings of customers with respect to the products and/or services sold, which will allow professionals and/or executives adapt the way in which their strategies interact with their customers and how they provide the service.
Big Data Characteristics: The 3 differentiating V
Some companies around the world began to take their first steps with Big Data and have invested part of their budgets to the research and processing of the data obtained. According to their experiences, the specialists have highlighted five characteristics of great importance to describe in depth the phenomenon, like the five Vs. of the Big Data: Volume, Variety, Speed, Veracity and Value of the data.
The concept of volume is very variable and every day that goes up what we can consider as large volumes of data. However, when talking about Big Data, it refers to volumes that exceed the capacity of conventional software, so that data can not be managed and managed. In general, when talking about large volumes it is Terabytes or Petabytes, so Big Data projects allow to include highly detailed and specific information that, until now, was not used because the technology could not process them in a reasonable time.
The information processed by the Data warehouse or conventional mechanisms is structured information that has gone through numerous quality filters to ensure that the output information has a precision and a certain accuracy. However, with Big Data you get information that can be structured, semi-structured or have no structure, that is, it can be data taken from web pages, social networks, forms or connect to the Internet or with objects interconnected to the web, better known as the Internet of things.
Refers to the speed with which the data is received, processed and decisions made from them. For most traditional systems it is impossible for them to immediately analyze the large volumes of data that arrive at them. However, with the use of Big Data systems it is possible, and even, you can make measurements in real time. It depends on the needs or demands of each type of company and thus, offer personalized offers, meet any requirement or difficulty instantly or measure the pulse or impact of the products and services concerning the demand in the market.
The truthfulness refers to the trust of the data or information obtained. Big Data is about extracting quality data by eliminating the inherent unpredictability of some conventional systems such as time or economy so that companies can reach a correct decision-making stage.
The value is relative, that is, the importance of the data will be given by each business, its objectives and the strategies that apply for the measurement. For example, knowing which data should be analyzed is essential for a company and will greatly define the usefulness of the Characteristics of big data.
Have you ever wondered how valuable your information is and how it could impact your business? Take preventive measures with your information and save yourself irreparable losses.