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Six V's of Big Data

  • Vrinda Mathur
  • Nov 10, 2023
  • Updated on: Sep 02, 2023
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Data is the most crucial thing in today's world. As the name implies. Big data is a vast volume of data that is growing at an exponential rate. It might be data in the form of a comment or anything digital like images, videos, and so on.


The development of several new technologies, including the Internet of Things, machine learning, and so on, with the goal of connecting everything to the internet, has boosted big data. So that these data can be saved. Traditional databases simply cannot manage it, however concepts such as cloud computing can store all data in the cloud.


What do you understand by Big Data?


Big Data is a massive collection of data that is growing exponentially over time. It is a data set that is so huge and complicated that typical data management systems cannot store or analyze it efficiently. Big data is a type of data that is extremely large in size.


Simply said, big data refers to larger, more complicated data volumes, particularly from new data sources. These data sets are so large that typical data processing technologies just cannot handle them. However, these huge amounts of data can be leveraged to solve business challenges that were previously unsolvable


Big data is a collection of organized, semistructured, and unstructured data gathered by businesses and used in machine learning projects, predictive modeling, and other advanced analytics applications.


Big data processing and storage systems, in conjunction with technologies that facilitate big data analytics, have become a frequent component of data management architectures in enterprises.


Companies use big data in their systems to improve operations, provide better customer service, generate targeted marketing campaigns, and take other activities that can boost revenue and profitability. Businesses who use it effectively can make faster and more informed business decisions, giving them a possible competitive advantage over those that don't. Big data, for example, gives important customer insights that businesses can utilize to improve their marketing, advertising, and promotions in order to increase customer engagement and conversion rates. Historical and real-time data can be evaluated to assess changing consumer or corporate buyer preferences, allowing organizations to become more responsive to client demands and needs.


Sources of Big Data


Digital data is currently present in every sector, economy, organization, and consumer of digital technology. While big data was formerly just of interest to a few data geeks, it is now of interest to leaders in every industry, and consumers of products and services stand to benefit from its implementation. The ability to store, aggregate, and combine data, and then use the results to do deep analysis, has become increasingly accessible as trends like Moore's Law in computing, its equivalent in digital storage, and cloud computing continue to reduce costs and other technical hurdles.


Organizations employ big data solely for analytics purposes. However, before firms can begin to extract insights and important information from big data, they must first become familiar with a variety of big data sources. Data, as we all know, is huge and comes in many forms. It can waste valuable time and resources if it is not properly categorized or sourced. To be successful with big data, businesses must be able to distinguish between the numerous data sources accessible and classify their usefulness and significance. Listed below are some of the major sources of information for Big Data 


  1. Media 


The most prominent source of big data is media, which provides significant insights into consumer tastes and evolving trends. It is the quickest way for businesses to receive an in-depth overview of their target audience, establish patterns and conclusions, and improve their decision-making because it is self-broadcasted and spans all physical and demographic barriers. Social media and interactive platforms such as Google, Facebook, Twitter, YouTube, and Instagram, as well as generic media such as photographs, videos, audios, and podcasts, provide quantitative and qualitative insights on all aspects of user involvement.


  1. Customer Satisfaction Survey


Customer comments on various companies' products or services on their websites generate data. Retail commercial sites such as Amazon, Walmart, Flipkart, and Myntra, for example, collect client feedback on the quality of their goods and delivery time. Telecom firms and other service providers strive to create a positive client experience. These generate a large amount of data.


  1. Cloud


Companies have surpassed traditional data sources by storing their data in the cloud. Cloud storage accepts both organized and unstructured data, allowing businesses to access real-time data and on-demand insights. The fundamental benefit of cloud computing is its scalability and flexibility. Because huge data can be stored and accessed on public or private clouds via networks and computers, the cloud is an efficient and cost-effective data source.


  1. IoT


Machine-produced content or data generated by IoT comprise an important source of big data. This data is typically generated by sensors connected to electronic gadgets. The sourcing capacity is determined by the sensors' ability to deliver real-time precise information. IoT is gaining traction and encompasses large data created not only by computers and smartphones, but potentially by any device that can emit data. Data from medical devices, vehicular procedures, video games, meters, cameras, household appliances, and other sources can now be gathered using IoT.


  1. E- Commerce 


Lots of records kept in e-commerce transactions, commercial transactions, banking, and the stock market are regarded one of the sources of big data. Payments made using credit cards, debit cards, or other electronic methods are all logged as data.


  1. Transactional Information


As the name implies, transactional data is information gathered through online and offline transactions at various points of sale. The data contains critical transaction information, such as the date and time of the transaction, the location where it occurred, the items purchased, their pricing, the means of payment, the discounts or coupons used, and other relevant quantitative data. Orders for payment, invoices, e-receipts, and recordkeeping are some of the sources of transactional data.


  1. Machine Data


Automatically generated machine data is produced in reaction to an event or according to a set timetable. This means that the data was gathered from a range of sources, such as satellites, desktop computers, mobile phones, industrial machines, smart sensors, SIEM logs, medical and wearable devices, road cameras, IoT devices, and others. These sources enable businesses to monitor consumer behaviors. Data collected from automated sources grows significantly in unison with the changing external environment of the market. These sensors are used to collect the following data: Machine data, in a larger sense, encompasses data generated by servers, user applications, websites, cloud programs, and other sources.


Also Read | What Is Hive In Big Data?


6 V’s of Big Data


Although the concept of big data is relatively new, massive data sets have their origins in the 1960s and 1970s, when the world of data was just getting started with the first data centers and the creation of the relational database.


People began to discover how much data users created through Facebook, YouTube, and other online services around 2005. That same year, Hadoop (an open-source framework designed primarily to store and analyze large data collections) was created. During this time, NoSQL was also gaining prominence. The Six V’s of the big data are.


  1. Volume


The term 'Big Data' refers to a massive amount of information. Volume refers to a large amount of data. The magnitude of the data is highly important in determining its worth. When the volume of data is exceptionally vast, it is referred to as "Big Data." This indicates that whether a given data set may be termed Big Data or not is determined by its volume.


As a result, when working with Big Data, a characteristic 'Volume' must be considered.


  1. Variability


Big data is not only massive in quantity, but also very variable. In some areas on a gadget, it is modest and simple, and in others, it is huge and complex. For example, some people enjoy collecting magazines or books. Variability in raw dataThey don't want to sell it even after reading it several times, yet others buy it, read it, and then sell it. The same is true with large data; it is simple in some places and difficult in others.


  1. Velocity 


The term velocity refers to the rapid collection of data.In Big Data velocity, data pours in from various sources such as machines, networks, social media, mobile phones, and so on.


A large and constant influx of data exists. This determines the data's potential, or how quickly it is generated and processed to fulfill demands. When dealing with a problem like velocity,' sampling data can be useful. For example, Google receives about 3.5 billion queries per day. Furthermore, Facebook users are expanding by approximately 22% year on year.


  1. Variety 


It refers to the type of data, which might be structured, semi-structured, or unstructured.


It also refers to diverse sources. Variety is defined as the arrival of data from new sources both within and outside of a company. It comes in three varieties: structured, semi-structured, and unstructured.


  1. Value


What makes something worthwhile is its value. If you are deserving. You have a value, if data is secure or organized it has a value, look at this website it has some heading and under that heading the information about the heading is written that means it is organized, the same is true for large data if it is safe and organized it has a value.


  1. Veracity


It refers to irregularities and uncertainty in data, i.e., available data can be messy at times, and quality and accuracy are difficult to control. Big Data is also variable due to the plethora of data dimensions produced by numerous independent data types and sources.


For example, data in bulk can cause confusion, but less data can only transmit half or incomplete information.


Wrapping Up


While big data has great potential, it is not without its limitations.First and foremost, big data is...huge. Despite the development of new data storage technologies, data volumes are doubling every two years. Organizations continue to struggle to keep up with their data and find effective solutions to preserve it. 


However, simply storing the data is insufficient. To be valuable, data must be used, which is dependent on curation. Clean data, or data that is relevant to the customer and organized in a way that allows for meaningful analysis, necessitates a significant amount of effort. Before data can be used, data scientists spend 50 to 80 percent of their effort filtering and preparing it. Finally, big data technology is evolving at a rapid pace.

Also Read | How Is Big Data Helping In Portfolio Management?

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