6V's of Big Data - GeeksforGeeks

6V’s of Big Data

Last Updated : 21 Feb, 2023

In recent years, Big Data was defined by the “3Vs” but now there is “6Vs” of Big Data
which are also termed as the characteristics of Big Data as follows:

1. Volume:

 Example: In the year 2016, the estimated global mobile traffic was 6.2
Exabytes (6.2 billion GB) per month. Also, by the year 2020 we will have
almost 40000 Exabytes of data.

2. Velocity:

 Example: There are more than 3.5 billion searches per day are made on Google.
Also, Facebook users are increasing by 22%(Approx.) year by year.

3. Variety:

 Variety is basically the arrival of data from new sources that are both inside and
outside of an enterprise. It can be structured, semi-structured and unstructured.
o Structured data: This data is basically an organized data. It generally
refers to data that has defined the length and format of data.
o Semi- Structured data: This data is basically a semi-organised data. It
is generally a form of data that do not conform to the formal structure of
data. Log files are the examples of this type of data.
o Unstructured data: This data basically refers to unorganized data. It
generally refers to data that doesn’t fit neatly into the traditional row and
column structure of the relational database. Texts, pictures, videos etc.
are the examples of unstructured data which can’t be stored in the form
of rows and columns.

4. Veracity:

 Example: Data in bulk could create confusion whereas less amount of data
could convey half or Incomplete Information.
5. Value:

6. Variability:

 Example: if you are eating same ice-cream daily and the taste just keep
changing.

How Big Data Artificial Intelligence is Changing the

Face of Traditional Big Data? - GeeksforGeeks
Last Updated : 21 Nov, 2019

Big data is slowly becoming a technology of the past. Recently, Big Data AI, a
combination of Big Data and Artificial Intelligence, is empowering businesses to
compile data as well as respond to it. Both big data and AI technologies are among the
hottest trends with a variety of applications in the world of technology. Big data helps
businesses access and determine future trends from gigantic volumes of data. AI helps
computers perform cognitive functions and make sense of the massive data sets
locked in presentations, excel sheets, and images.

However, the size of data collected across the globe is increasing each day. According
to an infographic shared by the World Economic Forum, the digital universe is
expected to reach 44 zettabytes by 2020. The sheer magnitude of data available to
businesses today, makes it challenging to convert it into knowledge, conclusions, or
actions.
No wonder, most firms are using Big Data AI to drive business results. The
convergence of AI and Big Data is the most-sought after tech trend today that is
helping businesses compile data and respond to it. Data fuels AI, allowing machine
learning applications to learn independently and improve their pattern recognition
capabilities. On the other hand, AI helps businesses wrangle data and leverage it in the
best way possible.

Big data AI is changing the manner in which enterprises drive value from their data
and improving their analytics capabilities as follows:

1. Data Is Becoming ‘More Relevant Data’

The term ‘Big Data‘ refers to the massive amount of unstructured, semi-structured,
and structured data accumulated through sensors, social media activity, emails,
satellite imagery, and other sources. If analyzed thoroughly, this data can offer
valuable industry insights to businesses. However, the job of sifting this data and
parsing and analyzing it is a lot for the human brain. Hence, businesses are turning to
Big Data AI to clean this data and gain actionable insights from it.
Big data AI relies on AI algorithms to process data instantly and get valuable insights
from it, thereby reducing the time required to benefit from Big Data. Further, AI
ensures that the insights derived are most applicable to the user’s needs and
preferences. Big data AI sifts the good from the bad and the relevant from the
irrelevant, thereby transforming the data in hand into usable contextually-relevant
information. For instance, Big Data AI can play a critical role in content curation by
helping content marketers create personalized email content, identify relevant topics,
and improve their content marketing campaigns. The Associated Press is already
using Big Data AI to enhance their data analysis skills, identify patterns, and use the
insights to create content that’s adapted to the reader’s personality, tone, location, and
time of day.
Not just relevant data, Big Data AI can help firms offer customer-responsive products
that fulfill their needs. Customer behavior changes each day. Hence, it is tough to
determine what kind of products or services a customer is expecting. Rather than
relying on customers to share their product preferences, businesses can use Big Data
AI to study buying habits and predict what they want.
2. Marketers Are Gaining Access to Location Intelligence

Big data AI is enabling marketers to experience the disruptive impact of mobile

location data. Location intelligence can help them derive relationships between the
various data sets and use the insights to make key business decisions and drive
customer conversions. For instance, location intelligence can help retailers study
location-based buy behavior and store visits, allowing them to make informed
decisions pertaining to the store layout, in-store product placement, and staffing.
Understanding the physical location of an individual has always helped businesses
improve customer experience. Location intelligence allows them to determine how
customers behave in the offline world and create tailored communications and
advertising for their customers.

3. Improves Risk Assessment Capabilities

Big data AI will be a game-changer for financial services and firms that operate in the
risk assessment realm. Take the insurance domain, for instance. Often, the insurance
firm representative has to determine whether or not offering insurance to a particular
client is a good idea. Big data AI can help them make the most suitable risk
assessment decision by evaluating client data and financial health within a short time.
Big data AI firms like Cytora and Scienaptic use the AI data engine that collates
information from various sources and smartly assigns a risk grade to the client seeking
insurance. This enables the insurance firm to make an informed risk assessment
decision.

4. Triggering the Growth of the Gig Economy

Terms like ‘freelancing, ‘ ‘solopreneurship, ‘ ‘self-employed, ‘ and ‘work-from-home’

among others are becoming quite popular in this modern digital age. Technology is a
huge contributor to this trend, allowing individuals to monetize their skills and
expertise as a side hustle or even a full-time business. Big data AI holds a huge
promise for firms promoting the work-from-home culture or anyone who’s looking
for an alternative work arrangement. For instance, in order to reduce their operating
costs, most firms prefer hiring remote programmers, front-end developers, and web
designers. However, finding the most suitable candidate for this job profile can be
quite challenging as the digital world is full of competitors and everyone wants to hire
the best talent.
Smart recruitment has made the hiring process easier for HR professionals. With Big
Data AI-powered applications and machine learning algorithms firms can optimize
their recruiting process and reduce the time and effort needed to screen through the
applications of the candidates. Within a few seconds, the HR professional can gauge
the job requirements and find an optimal match for the position. Further, the Big Data
AI-driven recruitment process is less discriminatory in comparison to the traditional
method.

Conclusion: Big data AI is not merely a buzz word accompanying Big Data or AI. Its
vast applications are making it a must-have tool for businesses who desire to handle
their data in a smart and efficient manner. Businesses in several domains, namely
eCommerce, cybersecurity, insurance, finance, digital marketing, and health are
already benefiting from Big Data AI.
Now that businesses are looking at digging deeper into data to boost their efficiency
and gain a competitive edge, the role of Big Data AI is becoming more important than
ever. Big data and AI are disruptive technologies that are here to stay. However, you
can expect businesses to increasingly couple these two to make sense of data and
boost their decision-making abilities.

1
Suggest improvement