What are the five V’s of Big Data?
Here are the five V’s of Big Data and how they help organizations to scale their business:
- Volume: Sheer volume of data is one of the first features of Big Data helping businesses in making better and informed decisions. Velocity: Sometimes, Volume can be beaten by Velocity or speed of acquisition of data. This is vital as companies face cut-throat competition and speed can be a big factor in gaining an upper hand here.
- Variety: Big Data has a major advantage in obtaining data having a lot of variety. This can help companies in the service industry where variety is considered a very important feature of gaining superiority among competitors.
- Veracity: Volume and Velocity are good only when the quality of data is good, ain’t that true? Big Data comes to the rescue here by providing quality data to help in accurate decision making.
- Value: This is the most vital aspect. You have large amounts of data that are acquired at a very high speed. But, you need to know whether this is good enough or not. Big Data provides you with more than just data. It helps you analyze it by bringing value to the table.
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