Characteristics of big data analysis

 8.    What are the Characteristics of big data analysis (including visualisations)?


5 Characteristics of Big Data + Visualisation:

 

Volume

If we see big data as a pyramid, volume is the base. The volume of data that companies manage skyrocketed around 2012, when they began collecting more than three million pieces of data every data. “Since then, this volume doubles about every 40 months,”

 

Velocity

In addition to managing data, companies need that information to flow quickly – as close to real-time as possible. So much so that the MetLife executive stressed that: “Velocity can be more important than volume because it can give us a bigger competitive advantage. Sometimes it’s better to have limited data in real time than lots of data at a low speed.”

 

Variety

The third V of big data is variety. A company can obtain data from many different sources: from in-house devices to smartphone GPS technology or what people are saying on social networks. The importance of these sources of information varies depending on the nature of the business. For example, a mass-market service or product should be more aware of social networks than an industrial business.

 

Veracity

The fourth V is veracity, which in this context is equivalent to quality. We have all the data, but could we be missing something? Are the data “clean” and accurate? Do they really have something to offer?

 

Value

Finally, the V for value sits at the top of the big data pyramid. This refers to the ability to transform a tsunami of data into business.

 

Visualisation

Data visualization is the practice of translating information into a visual context, such as a map or graph, to make data easier for the human brain to understand and pull insights from. The main goal of data visualisation is to make it easier to identify patterns, trends and outliers in large data sets. The term is often used interchangeably with others, including information graphics, information visualisation and statistical graphics.


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References:

https://www.edureka.co/blog/big-data-characteristics/

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