Does Your Big Data Lie to You?
Big data is like teenage sex: everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it. ----Dan Ariely, Duke University 1. What the Hell It Is? So the promise of big data is to reveal insights . To be more straightforward, people conclude that Big Data has the attributes of 4 Vs: Volume, Velocity, Variety, and Veracity. Volume refers to the vast amounts of data generated every second. Velocity refers to the speed at which new data is generated and the speed at which data moves around. Variety refers to the different types of data we can now use. Veracity refers to the messiness or trustworthiness of the data. Because of the 4 Vs, it is important that businesses make a business case for any attempt to collect and leverage big data. It is so easy to fall into the buzz trap and embark on big data initiatives without a clear understanding of costs and benefits. 2. The Duality of Big D...
