Big data is an ever-evolving and dynamic term that describes large volumes of data with the potential to deliver useful insights and information. Big data can inform machine learning strategies, form the basis of artificial intelligence applications, and transform business operations.
For years, Big Data was defined by the 3 V’s. Companies looked at the extreme volume of the data we collected, the variety of data available, and the velocity required for data processing. These concepts were identified in 2001 by Gartner analyst Doug Laney.