MKT 700 Lecture Notes - Lecture 2: Information Overload, Unstructured Data, Compound Annual Growth Rate
Document Summary
Big data defined: big data is data that exceeds the processing capacity of conventional database systems. The data is too big, moves too fast, or doesn"t fit the strictures of your database architectures. To gain value from this data, you must choose an alternative way to process it. edd dumbill, vp strategy at silicon valley data science: not just volume - but velocity & variety as well. Data volume can be measured by the sheer quantity of transactions, events, or amount of history that creates the data volume, but the volume is often further exacerbated by the attributes, dimensions, or predictive variables. Typically, analytics have used smaller data sets called samples to create predictive models. Oftentimes, the business use case or predictive insight has been severely blunted since the data volume has purposely been limited due to storage or computational processing constraints.
