Big data is not a single technology but a combination of old and new technologies that helps companies gain actionable insight. Therefore, big data is the capability to manage a huge volume of disparate data, at the right speed, and within the right time frame to allow real-time analysis and reaction. As we note earlier in this chapter, big data is typically broken down by three characteristics:
Volume: How much data
Velocity: How fast that data is processed
Variety: The various types of dataAlthough it’s convenient to simplify big data into the three Vs, it can be misleading and overly simplistic. For example, you may be managing a relatively small amount of very disparate, complex data or you may be processing a huge volume of very simple data. That simple data may be all structured or all unstructured. Even more important is the fourth V: veracity. How accurate is that data in predicting business value? Do the results of a big data analysis actually make sense?