What is the concept of big data and why is it important? 🔊
The concept of big data refers to extremely large datasets that are complex and difficult to process using traditional data processing techniques. Big data encompasses the three V's: volume, variety, and velocity, indicating the massive amount of data generated, the different types of data (structured and unstructured), and the speed at which data is generated and analyzed. Its importance lies in its potential to uncover insights, trends, and patterns that inform decision-making across various industries. Leveraging big data can drive innovations, improve operational efficiencies, enhance customer experiences, and support advanced analytics.
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