Big data is a term applied to data sets whose size or type is beyond the ability of traditional relational databases to capture, manage and process the data with low latency. Big data is larger, more complex data sets, especially from new data sources. These days, big data is changing the way world uses business information, so it can be a useful information and knowledge for decision makers in organization. Big data can help you address a range of business activities, from customer experience to analytics. Moreover, big data can be analyzed for insights that lead to better decisions and strategic business moves.

Volume: Volume related to a size which is enormous. Size of data plays very crucial role in determining value out of data. Also, whether a particular data can actually be considered as a Big Data or not, is dependent upon volume of data.
velocity: Velocity is the fast rate at which data is received and (perhaps) acted on. It related to the speed at which data flows in from sources like business processes, application logs, networks and social media sites, sensors, mobile devices, etc. The flow of data is massive and continuous.
Variety: Data comes in all types of formats – from structured, unstructured, and semi structured. Variety refers to heterogeneous sources and the nature of data.

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