Big data are massive data sets. Big data has 3 main parts: volume, velocity, and variety. Volume is the easiest part to explain and understand. The main component of big data is its immense volume or amount of information that it has. Second, velocity explains how fast the data is coming in. Lastly, variety means that not all of the information or data is the same or in a similar format. Some people consider an additional V to be veracity, which relates to the accuracy of the data. Big data is extremely important to businesses because it can help solve problems that businesses or other organization deal with on a daily basis. It can also provide information, which may help an organization serve more customers, market better, or expand its operations.
How it relates to MIS 2502:
In data analytics we learned of different ways to work with data and find meaningful information from data sets. When learning the extract, transform, and loading process, we encountered a part of the problem with big data: variety. Not all of the data in a data set will be entered the same or be formatted the same, which can confuse businesses and impact results. We were able to change the format of data to ensure that data was formatted the same so that if we need to find information from a data set, everything will be entered correctly and ensure that we will find all the information that we need. We also used tools for data mining such as R, which helps us find information from big data to help with business decisions.
Big data is used in every industry across the globe. It can be used to better understand customers, find problems within a business, increase the performance of sports teams, improve safety and every area in between. The police are able to utilize big data and use tools to extract meaningful information to figure out where they should place patrolling officers or know where the most crimes happen.
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