Big data is an area of knowledge that goes far beyond just a big pile of data. With each passing day, it has become an essential practice in every company with data challenges involving the 5 V’s (Volume, Velocity, Veracity, Variety, and Value).
Therefore, companies need to ensure that the data is correct and that the data analyses are also valid. Especially in the automated decision-making process where no human being is involved, you need to be sure that the data and analytics are correct.
Variety
In the past, all data created was structured and neatly fitted into columns and rows. But those days are over.
Currently, 90% of the data generated by organizations is unstructured (Emails, Phone Calls, Social Networks ).
Today they come in many different formats: structured, semi-structured, unstructured, and complex structured data. So why understand what big data is and apply it in this context? Because the technology is capable of storing and processing structured or unstructured data, regardless of format.
Value
The last V, but not least: value! They also mention that Big Data has a potential annual value.
Do I Need Big Data In My Company?
The need to use Big Data solutions starts with questions:
- What is my monthly or daily data volume?
- What is the acquisition and reading speed of the data I need?
- Do I have any tricks to check the integrity of the data?
- How many databases do I need to connect my business to?
- Does this data guide decision-making?
These five questions based on the 5 V’s are fundamental for the initial mapping of your company. With them, you will have a better understanding of your current scenario so that in the future, this information will serve you as a support to drawing up a strategic plan.
Also Read: What Are The 5 Vs. Of Big Data?
