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Why Big Data is Important for Businesses

First, let’s start with the definition of big data. Big data means large sets of structured and unstructured data. It is so large and complex that regular data processing techniques do not work in dealing with this type of data sets.

Generally, in the industry, the 3V model is used to describe big data. These 3Vs are; volume, velocity and variety. Volume is related with how the data is stored. Businesses collect data from many sources such as sales transactions and social media and storing this continuous data was a problem in the past. Nowadays, big data technologies made storing data easier.

Source: business2community.com
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