Big Data and 5V´s

Big Data and 5V´s

1. 5V´s

   • Volume
     • The first V of big data is all about the amount of data—the volume. Today, every single minute we create the same amount of data that was created from the beginning of time until the year 2000. We now use the terms terabytes and petabytes to discuss the size of data that needs to be processed. The quantity of data is certainly an important aspect of making it be classified as big data.
   • Velocity
     • the second V of big data, is all about the speed new data is generated and moves around. When you send a text, check out your social media feed and react to posts on Facebook, Instagram or Twitter or make a credit card purchase, these acts create data that need to be processed instantaneously.
   • Variety
     • A key characteristic of big data is that it not only is structured data but also includes text, images, videos, voice files and other unstructured data that doesn’t fit easily into the framework of a spreadsheet. Unstructured data isn’t bound by rules like structured data is.
   • Veracity
     • The veracity of big data denotes the trustworthiness of the data. Is the data accurate and high-quality? When talking about big data that comes from a variety of sources, it’s important to understand the chain of custody, metadata and the context when the data was collected to be able to glean accurate insights.
   • Value
     • organizations that have not created a data strategy to yield insights and to drive data-driven decision-making are going to fall behind competitors. Big data that’s analyzed effectively can provide important understanding of customers and their behaviors and desires, how to optimize business processes and operations and to improve a nearly endless amount of applications.
   • General Data
     • Big data is a powerful tool that allows organizations to transform large amounts of data into valuable information, leading to better decision making, greater efficiency, innovation and growth.

2. Application fields

   • Industry
   • Health
   • State
   • Marketing
   • Engineering
   • Education
     • In all these fields, the use of BIG DATA makes processes more efficient, thereby guaranteeing the making of assertive decisions and the anticipation of answers to the questions that are generated in the different processes, managing massive data, its use, regulation, control and effective modeling will guarantee that each of these fields have predictive processes, comparative graphs of previous years, historical information on a patient's treatment among many other answers to questions loaded in a vast database that will be followed. feeding and modeling to generate more efficient results and continuously improve the processes in which BIG DATA is applied.
       • The expected results, of the sectors that use BIG DATA

3. With the implementation of BIG DATA

   • Faster decision making
   • Improvement in strategic and marketing plans
   • Greater efficiency
   • Greater customer loyalty