“BIG
DATA”
DEFINED
BY THE V’S
Data science depends on one crucial input: Big
Data.
Big data is
often left undefined.
THE
TRADITIONAL THREE V'S
V-VOLUME,
HOW MUCH DATA:
- Data
quantity is beyond the capacity/ability of software & hardware
tools for an organization's computer infrastructure (storage,
software, processing, architecture) and human resource capacity.
-
The terabyte (TB=trillion=1012) yardstick has yielded to
petabytes (PB=quadrillion=1015 ) and exabytes
(EB=quintillion= 1018).
- Placeholder
V-VARIETY,
DIVERSE KINDS OF DATA:
- Data
type variety:
- un/semi/structured
raw data,
- object
oriented,
- micro-geographic,
- fuzzy
merge, complex joins ---
- data
that cannot be imported,
- wide
data, long data, wide and long data,
- placeholder
- Data
Variety: Why it Matters to Business (Links)`.
- Placeholder
- Placeholder2
- Placeholder2
V-VELOCITY,
SPEED OF DATA FEED, PROCESSING, AND USE:
- Data
quantity is beyond the capacity/ability of software & hardware
tools for an organization's computer infrastructure (storage,
software, processing, architecture) and human resource capacity.
-
The terabyte (TB=trillion=1012) yardstick has yielded to
petabytes (PB=quadrillion=1015 ) and exabytes
(EB=quintillion= 1018).
- Placeholder
- Placeholder2
- Placeholder2
V-VALUE
AND BIG DATA
V-VALUE,
ECONOMIC, ACCOUNTING, AND OTHER BUSINESS DATA VALUE
- Data
is often considered the single most valuable asset that some
organizations have.
- The
value of data comes from many sources ---not all of them measure
data's value in currency or exchange.
- Safety
/ Existence Value
- Epistemic
Value
- Seasonal
Value
- Conditional
Value
- Badge
Value / Status Value
- PLACEHOLDER
-
The terabyte (TB=trillion=1012) yardstick has yielded to
petabytes (PB=quadrillion=1015 ) and exabytes
(EB=quintillion= 1018).
- Placeholder
A
PRACTITIONER'S V'S
V-V-V-
ARIZONA TRIPLE-V: VARIABILITY, VOLATILITY, VALIDATION, ELEMENTS:
- Variability
- Variability
(timing, consistency, statistical) of data.
- Example:
Timing (Batches, burstiness
- Example,
Consistency: Data for certain parts of the operational system may
be periodically late, missing, or incomplete due to communications
hardware or software problems, failure of mechanical devices,
human error, production resource use outside of engineering
operating range, or other reasons. Most of these consistency
issues do not require statistical thinking to identify or analyze
since they are demonstrably systematic
- Example,
Statistical:
-
The terabyte (TB=trillion=1012) yardstick has yielded to
petabytes (PB=quadrillion=1015 ) and exabytes
(EB=quintillion= 1018).
- Placeholder
- Placeholder2
- Placeholder2
5
Other “V-dimensions”
Variety Data types: un/semi/structured raw data, object oriented,
microgeographic, fuzzy merge, complex joins
Velocity Streaming vs. time unit (minute, daily), etc. / QoS / Bandwidth
Variability/Volatility/Validation Variability (timing, consistency,
statistical) of data. Volatility has statistical, econometric, financial,
engineering, & error rate definitions. Validation (internal &
external) to pass “laugh test” while providing auditability/compliance and
monitoring.
The vital V, Value ---depends on business size, scale, scope, industry,
& “information sophistication level”
Big Data as the most important asset a business has
Optimize customer/client-centered decisions
Find exciting surprises, discover emerging trends, forecast competitor
actions, expose online & social media habits, quantify cost-benefits:
expected & actual
EXTERNAL
LINKS
(TOPICS
CONCERNING BIG DATA)
Why is Big Data Big Business? 2018
Cal Poly
National Center for Educational Statistics
National
Network of Libraries of Medicine
SYNERGY
DATA SCIENCE LINKS
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