The 3 Vs of Big Data

“Big data is like sex among teens. They all talk about it but no one really knows what
it’s like.” (Oscar Herencia, General Manager of the insurance company MetLife Iberia
and an MBA Professor at  the Antonio de Nebrija University - BBVA, May/2017)

Volume 

Size does matter, when talking about the volume of data. High volumes of low-density,
unstructured data. And this volume increases all the time. As days go by, more and
more people are accessing the internet and as a consequence, leaving their data.
So this volume tends to grow everyday.

 Velocity

When we talk about velocity, we talk about  the speed with which data is being generated.

It isn’t possible to image the amount of photos uploaded on Social Media, for example.
Or the forms that are

filled online or searches that are made.

Variety

Variety means that we receive structured and unstructured data that can be generated
by humans or machines.

And to differentiate that we can use some examples, like: Structured data: texts,
tweets, pictures & videos
Unstructured data: emails, voicemails, hand-written text, ECG reading, audio recordings

etc.

We can collect all the data we want to, but what matters in the end is how we use it.
What are we going to do

with all the information collected? And when are we going to use them? 

As we have so many in a short period of time, we must evaluate all that as fast as
possible, or the data collected will have no more value for your business.

References:

Whishworks.com. (2020). Understanding the 3 Vs of Big Data - Volume, Velocity and
Variety. [online] Available at: https://www.whishworks.com/blog/big-data/
understanding-the-3-vs-of-big-data-volume-velocity-and-variety [Accessed 3 Feb. 2020].

Bernard Marr. (2020). GE: Big Data and the industrial internet. [online] Available at:
https://www.bernardmarr.com/default.asp?contentID=685 [Accessed 3 Feb. 2020].

NEWS BBVA. (2020). The five V’s of big data | BBVA. [online] Available at: https://www.bbva.com/en/five-vs-big-data/ [Accessed 25 Feb. 2020].