“Information is the oil of the 21st century, and analytics is the combustion engine.” – Peter Sondergaard, Senior Vice President and Global Head of Research at Gartner Research
Big Data is a term that describes extremely large sets of information that are analyzed to reveal associations, trends, patterns and human behavior.
Big data is characterized by 3Vs; the extreme volume of data, the wide variety of data types and the velocity at which the data must be processed. It is a term that describes the large volume of data and the process of examining them.
Because of the myriad of records, big data can be analyzed for insights that lead to better decisions and strategic business moves.
Most importantly, big data facilitates collecting data for businesses, because when you combine it with high-powered analytics, you can accomplish business-related tasks. You are combining human brains with technology.