Big Data Management -Benefits & Challenges
Big data is defined by five Vs: volume, velocity, variety, veracity and value. The volume is the amount of data that can be stored and managed; velocity is the speed of calculation required for querying the data relative to the rate of data change; the variety measures the number of different data formats( e.g. text, audio, video). Veracity refers to data messiness or trustworthiness; and value is the importance given to accessing these data by companies/ entities.
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