The term “big data” remains difficult to understand because it can mean so many different things to different people. Your understanding will be different if you look at big data through a technology lens, versus a business lens or industry lens.
Essentially, big data (though not a great descriptor) refers to two major phenomena: The breathtaking speed at which we are now generating new data. Our improving ability to store, process and analyze that data To describe the phenomenon that is big data, people have been using the four Vs: Volume, Velocity, Variety and Veracity. Before I do that, I want to make the important point that all this data and our ability to use it is no good unless we can turn it into Value, which is my fifth V of big data.
Author: Bernard Marr