Big Data's 3 V's: Volume, Velocity, Variety and Business Applications

This report provides an overview of Big Data analysis, focusing on the three V's: Volume, Velocity, and Variety. It explains how organizations collect data from various sources, the speed at which this data is processed, and the different formats in which it is presented. The report highlights the significance of extracting relevant knowledge from large datasets and discusses technologies like Hadoop and cloud computing used in Big Data analysis. Real-world examples such as Uber's use of data for demand estimation and Pendleton Butchers' implementation of a work scheduling solution are provided to illustrate the practical applications of Big Data. The report concludes by emphasizing the importance of addressing challenges related to reliability, consistency, cost, and security in cloud computing environments.

The purpose of this document is to provide information to the
readership regarding Big Data Analysis, including what that is, how
it is utilized, and why it is significant, as well as several instances.
This would provide the participants with a deep understanding of Big
Data and how they can utilize it to assist businesses and public
organizations.
What is Big Data
Big data analysis is a combination of old and contemporary
techniques that allows organisations to have a better knowledge of
their customers. As a result, cloud computing enables a wide variety
of information to be handled at the appropriate velocity and during
the appropriate timeframe for authentic analysis and reaction.
How businesses make usage of Big Data Analysis
 Uber- Information collecting and monitoring on any
journey is used by the company to estimate need, assign
money, and determine rates. The company additionally
conducts in-depth evaluations of its towns' public
communication systems, enabling it to focus operations in
underserved communities and directly connect to quantity
transit. There seems to be a thorough
 Pendleton and Son Butchers- The Pendletons collaborated
with a cloud computing expert to install simple, low-cost
monitors within the store front to monitor pedestrian traffic
and evaluate the impact of visual merchandising and
advertising.
Technology based on big data analysis
 Hadoop Map Reduce is a software framework which uses
inexpensive computers to spread computing.
 A Work Scheduling and Resources Control Solution for
Hadoop YARN.
 Hadoop Standard as Hadoop requires frameworks as well as
other prevalent assistance tools.
 HDFS is a decentralized, widely accessible, fault-tolerant
storage way of storing content.
3 V’s of Big data
 Velocity: With the growth of the Network of Everything,
information is streaming into businesses at an unprecedented
rate, and that it must be handled quickly
 Variety: Information can be displayed in a variety of formats,
including hierarchical statistical information in traditional
systems to unorganized information entries, narratives,
photos, and voice recordings.
 Volume: Corporations collect information from a variety of
sources, notably their own offices, the Internet of Things,
automated equipment, pictures, online networking sites, and
much more.
Significance of big data
 Recompilation of overall danger profile in seconds.
 Detecting immoral behaviour when it has an influence on the
firm.
 Underlying reasons of malfunctions, issues, and faults are
identified in instantaneously.
 Discounts created depending on customer purchasing habits
at the time of acquisition.
Big Data
Introduction
Conclusion
As per One of the most important aspects of Big Data analysis is the
extraction of relevant knowledge from huge amounts of statistics.
Because it is impracticable to verify and validate all of the items in Cloud
Computing, new approaches should be developed. With regard to cloud
services, the primary challenges of Cloud Computing from a safety
perspective are reliability, consistency, cost, and secrecy. Internet systems
are used to hold large amounts of information. Consumers, on the other
hand, are unable to actually check the externalizing problems facts.
References
Erasmus, B., Strydom, J.W. and Rudansky-Kloppers, S. eds., 2016.
Introduction to business management. Oxford University Press Southern
Africa.
Zander, I., McDougall-Covin, P. and Rose, E.L., 2015. Born globals and
international business: Evolution of a field of research. Journal of
International Business Studies. 46(1). pp.27-35.
3 V’s of Big data