Big data is used to describe a vast quantity of data that is so large it becomes too difficult to manage using traditional technologies. It is commonly defined using the three Vs: Volume - The vast amount of data available, which leads to storage and management issues; Velocity - How fast data is being produced and aggregated and how fast the data must be processed to meet demand; and Variety - The number of types and sources of data, which can be structured and unstructured and can come from virtually anywhere. Data analytics make it possible to extract a fourth V: Value.
Just as the volume of data keeps growing, so do the sources. From commercial transactions to social media posts, personal data to weather patterns, nearly all data today is being tracked and recorded. It is up to data analysts to uncover the real potential.
Great strides have been made in the gathering, storage, and security of data, but the real opportunity is in the data analysis. Its application is virtually limitless, and will shape the world we live in, from the way we interact on a personal level to how businesses and governments evolve. The increased use of data in virtually every sector has created a talent gap for data analysts.