What does the term 'big data' refer to in technology? 🔊
The term “big data” refers to the vast volume of structured and unstructured data generated from various sources, such as social media, sensors, and transactions. Its significance lies in the potential to glean valuable insights through advanced analytics tools and techniques. Big data encompasses the three Vs: volume, velocity, and variety, which pose challenges in storage, processing, and analysis. Businesses leverage big data to identify trends, enhance customer experiences, and drive strategic decision-making. The ability to analyze and act upon this massive amount of information can provide a substantial competitive advantage.
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