Big Data: Meaning, Characteristics, Features, Structured, Semi-Structured|Management

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Back in 2001, Garter analyst Doug Laney listed the 3 V’s of Big data. Those are:

Variety: It includes the structured, unstructured, and semi structured data that is gathered from multiple sources.

Today data comes in an array of forms such as Videos, photos, emails, pdfs etc
Velocity: It is basically the speed at which data is created in real time. In broader aspect, it comprises of linking of incoming data sets at varying speeds , rate of change etc.

Volume: It simply means huge data that is generated on a daily basis from various like human interactions through conferences, seminars etc; social media platforms, machines etc.
Features of Big Data
Helpful in giving Insights: With the big data insights, one can stay ahead of the competitors as one can screen the market to know what king of pricing strategies, promotional offers are provided currently by the competitors.

Big data analytics: Various tools can be used to understand how well the companies products are doing in the market and how customers are responding to them. Thus, it helps in understanding where to invest the time and money
Streamlining digital marketing strategies: Big data, specially the one gathered from social media platforms, helps in providing insights into the customer pain points and allow companies to improve upon their products and services.

Abundance to get an overall view: Since big data is huge, at the time of analytics there is possibility of paucity of data and hence complete, accurate view point can be formed
Structured Data: By structured we mean, that the data can be processed, stored and retrieved in a fixed format. It basically refers to highly organized information that can be readily stored and accessed from data base by simple search engine algorithms.

For example: Employee data in the form of tables.
Unstructured Data: It refers to the data which lacks any specific form. This makes it very complex and time consuming to process and analyze the same. Email is an example of unstructured data as there is no specific form in which we can analyze what is in the email

Semi Structured: It has the quality of both the structured and unstructured data. To be precise, it refers to a data that although has been classified under a particular repository but yet contains information or tags that separate individual elements within the data

00:01 Big Data Meaning And Types
00:14 Meaning
02:41 Characteristics Of Big Data
04:38 Features Big Data
07:19 Types of Big Data
09:46 Lets practice

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