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Introducing Big Data’s 5 Vs

Introducing Big Data’s 5 Vs

Introducing Big Data's 5 Vs

Nowadays, the data revolution has less to do with collecting astronomical amounts of loose data and more to do with technology that stores, analyzes and transforms this data into powerful insights. With this in mind, it’s important to know Big Data’s 5 Vs.

You possibly know that 90% of all data available today was generated during the last years, making it impossible to gather and analyze it manually, in part because in a single minute there are more than 900 thounsand logins on Facebook, 3.5 million searches in Google, 16 million text messages, and more!

In fact, data by itself is not that relevant because the difference is actually made by analyzing and treating it. Today, through analysis and other methods, some companies use Big Data to create intelligence and impact areas, such as production, consumer experience, marketing, sales, and others.

In short, Big Data use is essential for the strategic management of your business. With it, is possible to identify trends, foresee changes, understand better consumer behavior and assess corporate image.

Big Data is still an abstract and complex concept so to understand it better it´s divided into 5 categories.

Meet Big Data’s 5 Vs

Volume:

Each day more than 2.5 quintillions bytes are generated by the sharing of pictures, messages, and e-mails. This volume of information is one of Big Data’s highlights, which transforms this into something useful for the companies.

Velocity:

With today’s instantaneity, the speed at which data is gathered and analyzed is essential. In that way, outdated information loses value making Big Data a necessity.

Variety:

Since the data is obtained through many different sources, the result is the diversity of information which is generated by Big Data´s capacity to not only decode but also store conventional and non-conventional data, like photos and videos. This information is divided into structured, semi-structured, and non-structured data.

Variability:

With the great amount of information generated by Big Data, authenticity-check is of the utmost importance, not only regarding the data´s veracity but also if it´s updated or not, and as a result planning becomes a safer.

Value:

In order to add value do the gathered data, it´s necessary an information analysis based on the company´s objective.

Zoox Smart Data offers technological solutions that apply Big Data and Artificial Intelligence to understand and deliver consumer profiles using environment sensors (such as WiFi and cameras) to collect information.

However, as mentioned before, pure data is useless without an analysis. That´s why our platform provides a dashboard with treated and organized information, aggregating value to data, and ultimately, providing valuable insights for your business. And of course, all of this complying with the General Data Protection Act.

Believe it or not, but only 0.5% of this universe of data was analyzed and used for commercial uses. In other words, 99.5% of all information online is still raw and available to be treated with Big Data and Artificial Intelligence solutions making it possible to intensify and enhance decision-making strategies! Now that you know about Big Data’s 5 Vs, what are you waiting for?

Talk to one of our specialists