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Big data describes extremely large and complex data sets that cannot be efficiently analysed using traditional data processing methods. This data consists of unstructured, semi-structured and structured information collected from various sources such as social media, sensors, transactions and more. By analysing this data, valuable insights can be gained and used in projects such as machine learning, predictive modelling and other advanced analytics applications.
Big data is often described in terms of six key characteristics known as the six Vs:
Big data is used in numerous areas to improve efficiency and accuracy and to drive innovation. Here are some of the most important applications:
Big data is a powerful tool that helps companies and organisations to gain valuable insights from large and complex data sets. By understanding and applying the six Vs – Volume, Velocity, Variety, Value, Veracity and Variability – data scientists and analysts can better understand and utilise the important characteristics of big data. In an increasingly digitalised world, the importance of big data will continue to grow, and companies that use this technology effectively can secure decisive competitive advantages.
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