Talking to a huge group of tech-enthusiasts, one at a time, searching for the topic for unaccountable hours on google and chatting with experts about the definition of Big Data, would only make you arrive at one concrete solution and that is that “as many sources, as many definitions”. However,there definitely are attributes of the Big Data that are on everybody’s tongue tips. And they are discussed below.

Volume

One of the main reasons that Big Data is referred to as Big, is because of the massive volumes of data that it generates for a business. It has been estimated by Thomson Reuters that presently the world is washed with over 1000 Exabyte, of data which is going to grow by 50% per year.With the internet of things expanding and connecting the devices like anything, the amount of data that will be generated in the months and years to come will be giganticand would need quality tendering.

Velocity

It is the frequency at which the data comes in. Think of it this way, how many cash transactions trigger an alert that is sent through one carrier on various mobile devices, and email accounts that require a network convenience. Big Data is huge in this respect, that such an enormous chunk of data is coming in at pace never before seen.

Variety

Traditional data types comprise of the kind of information that pertains to date, amount, time of our bank statements. Other parts of a structured data include, twitter feeds, audio files, web pages and everything else that could demand to be stored but not have a meta model. Now imagine both structured and unstructured data come in at a single point in time.

Veracity

With its big data analytics extension, Big Data leverages real-time insights which help differentiate between authentic and phishing data. With the kind of cyber-attacks that are being pepped up by the hackers onto various websites, it is the call of the hour to deploy the means that help understand the nature of incoming information.

Value

The Kind of results that you acquire through Big Data, could be essential in cross-selling an opportunity or even creating a new product line for that matter. It could even be that the discovery that you make leads to a critical causal effect that could potentially wipe out redundant formalities from the operational model of the organization.