This is one of the buzz words in today's world and has gained the attention of many industries. By looking at the name one might think it as data in "BIG" format. But there is much more than that. Today the rate of data generation is so huge and there are several dimensions that data evolves.
Big data spans three dimensions: Volume, Velocity and Variety.
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Volume – Big data comes in one size: large. Enterprises are awash with data, easily amassing terabytes and even petabytes of information.
Volume – Big data comes in one size: large. Enterprises are awash with data, easily amassing terabytes and even petabytes of information.
Velocity – Often time-sensitive, big data must be used as it is streaming in to the enterprise in order to maximize its value to the business.
Variety – Big data extends beyond structured data, including unstructured data of all varieties: text, audio, video, click streams, log files and more."
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The most interesting challenge as well as the opportunity comes for companies who deals with Big data. You cannot rely on conventional method to store, load and analyse big data. If the companies do not carefully model their big data problems using all 3 mentioned dimensions the friction they will have in the future to growth will be significant. It is no doubt that huge reinvestment will be needed to re design the whole system to meet the requirements.
Here are some articles which discuss about those issues in big data [2] [3]
Great to see the industry finally adopting the "3V"s of big data over 11 years after Gartner first published them. For future reference, and a copy of the original article I wrote in 2001, see: http://blogs.gartner.com/doug-laney/deja-vvvue-others-claiming-gartners-volume-velocity-variety-construct-for-big-data/. --Doug Laney, VP Research, Gartner, @doug_laney
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