Text Transcript
Let’s look at the characteristics of Big Data. First, you need to know the 4Vs of Big Data, which are Variety, Velocity, Volume and Veracity.
The 4Vs of Big Data
1. Volume
Volume is about the size of the data, such as transaction data like photos, audios, text messages. Previously we only collect transaction data of particular branches. But now because of all the digital activities that have increased to such high volumes, there is a large volume of data that needs to be handled.
2. Variety
Variety is about the different types of data, such as photo images, audios, text messages, videos. The variety of data has become increasingly wide in range over time.
3. Velocity
Velocity is the speed of the data that is coming in. Nowadays, internet speed has increased so much as compared to the past. Hence, the velocity of the data received these days is at a very high speed.
For example, some modern cars have more than 100 sensors. All these sensors will be generating new data constantly. Even some smart motorbikes have more than 40 sensors that send new data to the servers every 5 or 10 minutes. So you can only imagine how fast the data is received.
4. Veracity
Veracity is the poor data quality, in which people are not certain if they should trust the data or not. Many of us are familiar with the effectiveness of how Americans utilizing data. They are good with numbers that can be used as evidence for crime investigation, businesses or finances that are often discussed in Wall Street Journal. However, there is also often manipulation of numbers that may lead to inaccurate data.
How Big is Big Data?
Here is an interesting fact that was found 2 or 3 years ago. Every minute of a day, YouTubers upload about 72 hours of new videos, we send about 204, 000, 000 emails, Google receive over 4, 000, 000 search inquiries, WhatsApp users share about 347, 222 photos, etc. So you can only imagine the amount of data that is transmitted every day.
