What Is Big Data?

Big Data refers to data sets that, due to their volume/variety/velocity, are difficult to make sense of with traditional methods. Big data alone is not "value"; value emerges when you process data and turn it into decisions.

The 5Vs of Big Data

Core Types of Machine Learning

• Volume: Terabytes-petabytes
• Velocity: Real-time streaming
• Variety: Text, image, log, sensor, video
• Veracity: Noise, missing data, incorrect record problems
• Value: Insight that turns into business outcome

Why Is It Important?

Big Data analytics is a transition from a culture of "guessing" to a culture of "evidence". When set up correctly, critical decisions such as demand forecasting, operational optimization, risk scoring and customer lifetime value (LTV) become measurable.